South Korea, UK commit to cooperate on reinforcing supply chains

South Korea and the United Kingdom agreed to bolster economic security cooperation and to fortify critical supply chains, amid the US-led initiative to diversify the global supply chain away from China.

In the inaugural UK-ROK Senior Economic Dialogue held in Seoul Friday, UK Minister of State for the Indo-Pacific Anne-Marie Trevelyan and South Korea’s Vice Minister of Foreign Affairs, Lee Dohoon, agreed to closer coordination on critical and emerging technology policies. The talks emphasized sectors such as AI, quantum computing and biotechnology.

“Both nations also expressed their desire to advance new global trade rules that are fit for the 21st century and pledged to coordinate efforts to enhance economic security and strengthen critical supply chains’ resilience,” according to a joint statement Friday. 

The announcement reinforces the Biden administration’s push to diversify global supply chains, which are currently dominated by China, and addresses concerns about disruptions to them. The two countries join other nations in a growing number of alliances formed to maintain a competitive edge in technological and other advancements amid the rivalry between the US and China.

Besides technological cooperation, the dialogue also underscored the issue of climate change, particularly the importance of supporting vulnerable and developing nations. The ministers welcomed the signing of the Letter of Intent for the Strategic Development Partnership, which aims to deepen bilateral development cooperation in the Indo-Pacific region.

Both ministers expressed optimism in the successful operation of intergovernmental channels, including the ROK-UK Joint Committee Meeting on Science and Technology Cooperation. 

US President Joe Biden has been soliciting support from allies including South Korea in reducing the global supply chain’s dependence on China, while also imposing sweeping curbs on the sale of advanced semiconductor equipment. South Korea has pledged cooperation with other key regional players including Japan, India, France, Canada and the Netherlands to facilitate a stable supply chain.