Vulnerability of Global Supply Chain: focusing on Korea’s Major Imports from China

Yoojin Yi, Euijune Kim
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Abstract

Risks in the supply chain originating from China are expanding due to the intensifying trade conflict between the US and China and the blockade of major Chinese cities. In order to minimize the impact of the supply chain disruption on the Korean economy, it is necessary to reduce the import dependence from China and diversify the supply chain. This study analyze the vulnerabilities of the global supply chain for Korea's major import items, which are more than 50% dependent on imports from China. Major findings are: first, there is a weak correlation between the three indicators of supply chain vulnerability. Second, items with high priority for supply chain stabilization due to high dependence on imports from China, difficulties in diversifying suppliers, and weakness of localization capabilities are mainly raw materials and consumer goods. Third, as a supplier to replace China, Vietnam has a great influence on imports of consumer goods and capital goods, while Japan has a great influence on imports of raw materials. The optimal strategy for diversifying supply chain, such as monitoring of the potential risk factors, strategic international cooperation, and strengthening localization capacity, may vary by country, type of goods, and time frame.
全球供应链的脆弱性:以韩国从中国的主要进口为例
随着中美贸易矛盾的加剧和中国主要城市的封锁,来自中国的供应链风险正在扩大。为了最大限度地减少供应链中断对韩国经济的影响,有必要减少对中国的进口依赖,实现供应链多元化。本研究分析了韩国主要进口项目的全球供应链的脆弱性,这些项目超过50%依赖于从中国进口。主要发现有:第一,供应链脆弱性的三个指标之间存在较弱的相关性。其次,由于对中国进口的依赖程度高,供应商多元化困难,本地化能力薄弱,供应链稳定优先考虑的项目主要是原材料和消费品。第三,作为替代中国的供应国,越南对消费品和资本品的进口影响很大,而日本对原材料的进口影响很大。供应链多元化的最佳策略,如监测潜在风险因素、战略性国际合作和加强本地化能力,可能因国家、商品类型和时间框架而异。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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