The Ministry of Trade, Industry and Energy announced today (the 2nd) that it held the first South Korea-Japan Supply Chain Partnership (SCPA) Implementation Council with Japan's Ministry of Economy, Trade and Industry in Tokyo to discuss ways to strengthen supply chain cooperation between the two countries.

The chief delegates for the meeting were Kim Jang-hee, Director-General for New Trade Strategy Support at the Ministry of Trade, Industry and Energy, and Shogo Tanaka, Senior Coordinator for Trade Policy at the Ministry of Economy, Trade and Industry.

This meeting was arranged as a follow-up measure to the SCPA signed in March and the South Korea-Japan summit held in May.

Both sides discussed measures to expand cooperation for the diversification of critical mineral supply chains.

In addition, they agreed to continuously deepen cooperation to ensure stable supply and demand of liquefied natural gas (LNG), crude oil, and petroleum products in the event of a supply chain crisis.

They also discussed coordination measures regarding major countries' regulations, such as the European Union's Carbon Border Adjustment Mechanism (CBAM).

Kim Jang-hee, Director-General for New Trade Strategy Support, stated, "Amid persistent uncertainties in global supply chains, the importance of supply chain cooperation between South Korea and Japan, which share similar industrial structures, is growing ever greater," adding, "Using this first implementation council as an opportunity, we will develop the SCPA into a communication channel that yields practical supply chain cooperation measures between the two countries."

(Photo: Yonhap News)