Most Korean Businesses to Weather Global Supply Chain Disruptions

Substantially over half of Korean businesses suffered problems with their global supply chain due to the coronavirus pandemic. Some say they are seeing unexpected opportunities at home, but most are stumped.

Yet only a small number said they will shut down their overseas production bases.

By industry, 66.7 percent of car and automotive parts makers said their global supply chain suffered from the epidemic, followed by 57.1 percent of machinery and 50 percent of petrochemical companies.

Nearly half or 48.4 percent said they expect some major changes in the global supply network, but 37.4 percent said they are not prepared for them.

While 21.2 percent said they hope to diversify suppliers, 20.2 percent said they will have to rely more on their existing ones and 13.1 percent will try to source parts and materials locally. Only three percent said they are considering moving overseas plants back home.

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