South Korea, France Agree to Work Together on Supply Chain

(Bloomberg) -- South Korea and France said they will work together in the Indo-Pacific region and vowed to enhance supply chain initiatives. 

The nations “agreed, amidst the increasing importance of economic security, to strengthen cooperation in enhancing supply chain resilience and enhancing technological competitiveness,” according to a joint statement released after South Korean Foreign Minister Park Jin and his French counterpart, Catherine Colonna, held talks in Seoul on Saturday.

Both agreed to enhance cooperation in the Indo-Pacific region in areas such as strategic industries. They also vowed to build their partnership in fields such as nuclear power, space and information technology, and to work together on renewable energy, digital technology, aeronautics and low-carbon mobility.

The agreement comes amid global concerns about supply chain disruptions and the need for countries to maintain a competitive edge in technological advancements amid the growing rivalry between the US and China.

South Korean Pressident Yoon Suk Yeol is set to go to Washington for a state visit in less than two weeks. US President Joe Biden may seek South Korea’s help in imposing sweeping curbs on the sale of advanced chips equipment to China. 

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