Korea Elected as the Inaugural Chair of the Indian-Pacific Economic Framework Crisis Response Network
Korea Elected as the Inaugural Chair of the Indian-Pacific Economic Framework Crisis Response Network
The Ministry of
Trade, Industry, and Energy announced that the three implementation bodies of
the Indian-Pacific Economic Framework (IPEF) Supply Chain Agreement have
officially launched. Korea has been elected as the inaugural chair of the
Crisis Response Network, which plays a key role during crises.
The Crisis
Response Network, introduced by IPEF, is the world's first supply chain crisis
response platform. It convenes emergency meetings within 15 days upon any
member's request to discuss support measures like alternative supply sources
and expedited customs clearance. Meetings can escalate to ministerial or
head-of-state level. The network also develops response strategies, conducts
regular drills, and evaluates existing policies to strengthen member
capacities.
On July 24, Korea
was unanimously elected as the chair of the Crisis Response Network (CRN) by
all 14 member countries. Additionally, Japan was elected as the vice-chair,
establishing a Korea-Japan-led global supply chain cooperation system.
👉 Contact GCA
Comments
Post a Comment