South Korean media: Procurement of raw materials for semiconductor, display and other industries will become an increasingly serious problem

The Bank of Korea pointed out in a report recently that the risks in raw material procurement caused by the war in Ukraine and the rise of China are currently the biggest concerns for South Korea's emerging growth industries such as next-generation semiconductors, displays, electric vehicles, and rechargeable batteries.

According to South Korean media businesskorea, the report pointed out that the COVID-19 pandemic that began in 2019 exposed South Korea's supply chain vulnerability and risks related to raw materials. South Korea is still heavily dependent on imported raw materials and intermediate products in the manufacture of semiconductor chips, electric vehicle batteries, medical equipment, etc., and there are also few countries from which it imports.

The Bank of Korea stressed that the global supply chain is likely to continue to be frustrated due to geopolitical reasons, and the procurement of raw materials will become an increasingly serious problem at that time.