Korea expands supply chain stabilization committee under revised decree

The change comes under a partial revision to the enforcement decree of the Economic Security Supply Chain Stabilization Support Act, which took effect the same day it was promulgated. The Ministry of Economy and Finance said the revision is intended to strengthen deliberation and coordination on supply chain stabilization and to address shortcomings identified in the operation of the current system.

The supply chain stabilization committee, established under Article 4 of the decree, gains the minister of the Ministry of Planning and Budget as a new member. The expert committee's membership rises from 10 to 20, and its composition must now take gender into account. The committee chair may also invite non-members to meetings or adjust the scope of attendance when necessary.

The revision also expands the pool of institutions eligible to conduct supply chain surveys and compile related statistics. The Korea Institute for International Economic Policy was added alongside the existing Korea Institute for Industrial Economics and Trade, while the Trade Security Management Institute and the Defense Agency for Technology and Quality were newly designated under the decree. The three new institutions can also be entrusted with operating and managing the early warning system for supply chain risks.

The decree was promulgated as Presidential Decree No. 36742 following Cabinet deliberation on Oct. 6 and took effect the same day.