{"id":2203204,"date":"2023-12-25T08:00:00","date_gmt":"2023-12-24T23:00:00","guid":{"rendered":"https:\/\/koreapro.org\/?p=2203204"},"modified":"2023-12-24T21:58:06","modified_gmt":"2023-12-24T12:58:06","slug":"chinas-export-restrictions-test-south-koreas-supply-chain-resilience","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/","title":{"rendered":"China\u2019s export restrictions test South Korea\u2019s supply chain resilience"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The South Korean Ministry of Economy and Finance (MOEF) <\/span><a href=\"https:\/\/www.moef.go.kr\/nw\/nes\/detailNesDtaView.do?searchBbsId1=MOSFBBS_000000000028&amp;searchNttId1=MOSF_000000000066866&amp;menuNo=4010100\"><span style=\"font-weight: 400;\">met<\/span><\/a><span style=\"font-weight: 400;\"> on Dec. 22 to address supply chain risks involving urea, graphite, gallium and germanium. This meeting reviewed current global market trends and discussed South Korea\u2019s response plans. The focus was primarily on mitigating risks and ensuring a stable supply chain for these materials.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of Dec. 21, South Korea has secured a 6.6-month stockpile of urea due in part to the efforts of private companies in securing alternative sources. Additionally, the South Korean government has taken steps to facilitate consumer access to urea by updating and verifying information on <\/span><a href=\"https:\/\/www.opinet.co.kr\/user\/main\/mainView.do\"><span style=\"font-weight: 400;\">Opinet<\/span><\/a><span style=\"font-weight: 400;\">, a website operated by the <\/span><a href=\"https:\/\/www.knoc.co.kr\/ENG\/main.jsp\"><span style=\"font-weight: 400;\">Korea National Oil Corporation<\/span><\/a><span style=\"font-weight: 400;\"> that provides oil price information nationwide.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">MOEF\u2019s Friday meeting comes amid China\u2019s export restrictions on critical minerals, including urea, graphite, gallium and germanium. These materials are vital for various industries, with <\/span><a href=\"https:\/\/koreapro.org\/2023\/12\/south-korea-scrambles-to-avert-urea-shortage-as-china-tightens-exports-again\/\"><span style=\"font-weight: 400;\">urea<\/span><\/a><span style=\"font-weight: 400;\"> essential for reducing nitrogen oxide emissions and fertilizer production, <\/span><a href=\"https:\/\/koreapro.org\/2023\/11\/why-chinas-graphite-control-impacts-south-koreas-battery-landscape\/\"><span style=\"font-weight: 400;\">graphite<\/span><\/a><span style=\"font-weight: 400;\"> for battery production and <\/span><a href=\"https:\/\/koreapro.org\/2023\/09\/korea-and-china-discuss-latters-export-restrictions-signaling-diplomatic-thaw\/\"><span style=\"font-weight: 400;\">gallium and germanium<\/span><\/a><span style=\"font-weight: 400;\"> for semiconductor manufacturing. China\u2019s export restrictions further exacerbate South Korea\u2019s supply chain vulnerabilities, particularly as the U.S.-China rivalry intensifies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although South Korea has proactively secured a 6.6-month urea stockpile, with private companies playing a key role in sourcing alternatives, this achievement is shadowed by China\u2019s <\/span><a href=\"https:\/\/www.fmprc.gov.cn\/eng\/xwfw_665399\/s2510_665401\/2511_665403\/202312\/t20231222_11209887.html\"><span style=\"font-weight: 400;\">announcement<\/span><\/a><span style=\"font-weight: 400;\"> last week of its ban on exporting technology for rare earth magnets. As Chinese export controls continue to trend, South Korean supply chains face increased vulnerability. Seoul\u2019s acute awareness of the need to strengthen its supply chain was voiced by the Federation of Korean Industries\u2019 <\/span><a href=\"https:\/\/www.fki.or.kr\/main\/news\/photo_detail.do\"><span style=\"font-weight: 400;\">proposal<\/span><\/a><span style=\"font-weight: 400;\"> last Wednesday for a \u201ctrilateral economic alliance\u201d between U.S., South Korea and Japan, emphasizing cooperation in supply chains and advanced industries. Despite <\/span><a href=\"https:\/\/www.nknews.org\/2023\/12\/us-rok-japan-start-real-time-data-sharing-on-north-koreas-missile-launches\/\"><span style=\"font-weight: 400;\">significant strides<\/span><\/a><span style=\"font-weight: 400;\"> in the past year to improve their joint security partnership, the feasibility of such a trilateral economic alliance is made doubtful by U.S. President Joe Biden\u2019s <\/span><a href=\"https:\/\/projects.fivethirtyeight.com\/polls\/president-general\/\"><span style=\"font-weight: 400;\">faltering poll numbers<\/span><\/a><span style=\"font-weight: 400;\"> against Donald Trump and Japanese Prime Minister Fumio Kishida\u2019s <\/span><a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/kishidas-cabinet-approval-hits-record-low-171-jiji-2023-12-14\/\"><span style=\"font-weight: 400;\">low approval ratings<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/inter-korean-foreign-relations\/\"><span class=\"tag\">Inter-Korean &amp; Foreign Relations<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/technology-cyber\/\"><span class=\"tag\">Technology &amp; Cyber<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>The South Korean Ministry of Economy and Finance (MOEF) met on Dec. 22 to address supply chain risks involving urea, graphite, gallium and germanium. This meeting reviewed current global market trends and discussed South Korea\u2019s response plans. The focus was primarily on mitigating risks and ensuring a stable supply chain for these materials. As of [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2203205,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,28,29],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China\u2019s export restrictions test South Korea\u2019s supply chain resilience - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China\u2019s export restrictions test South Korea\u2019s supply chain resilience - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"The South Korean Ministry of Economy and Finance (MOEF) met on Dec. 22 to address supply chain risks involving urea, graphite, gallium and germanium. This meeting reviewed current global market trends and discussed South Korea\u2019s response plans. The focus was primarily on mitigating risks and ensuring a stable supply chain for these materials. As of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/\" \/>\n<meta property=\"og:site_name\" content=\"KOREA PRO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/nknewsorg\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-24T23:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-24T12:58:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/koreapro.org\/wp-content\/uploads\/sites\/6\/2023\/12\/Untitled-design.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"548\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"johnleenknews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:site\" content=\"@southkoreapro\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"KOREA PRO\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/\"},\"author\":{\"name\":\"johnleenknews\",\"@id\":\"https:\/\/koreapro.org\/#\/schema\/person\/b9766dba611638edc06a6e0b7078714d\"},\"headline\":\"China\u2019s export restrictions test South Korea\u2019s supply chain resilience\",\"datePublished\":\"2023-12-24T23:00:00+00:00\",\"dateModified\":\"2023-12-24T12:58:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/\"},\"wordCount\":340,\"publisher\":{\"@id\":\"https:\/\/koreapro.org\/#organization\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/12\/Untitled-design.png\",\"keywords\":[\"Business &amp; Economy\",\"Inter-Korean &amp; Foreign Relations\",\"Technology &amp; Cyber\"],\"articleSection\":[\"Briefings\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/\",\"url\":\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/\",\"name\":\"China\u2019s export restrictions test South Korea\u2019s supply chain resilience - KOREA PRO\",\"isPartOf\":{\"@id\":\"https:\/\/koreapro.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/12\/Untitled-design.png\",\"datePublished\":\"2023-12-24T23:00:00+00:00\",\"dateModified\":\"2023-12-24T12:58:06+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/#primaryimage\",\"url\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/12\/Untitled-design.png\",\"contentUrl\":\"https:\/\/assets.korearisk.com\/uploads\/sites\/6\/2023\/12\/Untitled-design.png\",\"width\":1870,\"height\":1000},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/koreapro.org\/2023\/12\/chinas-export-restrictions-test-south-koreas-supply-chain-resilience\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/koreapro.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"China\u2019s export restrictions test South Korea\u2019s supply chain resilience\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/koreapro.org\/#website\",\"url\":\"https:\/\/koreapro.org\/\",\"name\":\"KOREA PRO\",\"description\":\"Be smart about South Korea. 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