South Korea’s major industries are experiencing supply disruptions in core components as the pandemic lockdowns in China show no end in sight. With the country’s high dependence on Chinese imports, any disruption in the supply chain would threaten the South Korean economy, according to a recent study.
Under the severe disruptions to the Chinese supply chain, many South Korean industries have experienced partial production cuts and shutdowns, fearing it may lead to an economic crisis if the Chinese lockdowns persist.
Some 29.3 percent of South Korea’s material parts imports came from China in 2020 and 27.3 percent in 2019, according to the Federation of Korean Industries, which represents South Korea’s major conglomerates and associated members.
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