Korea Pledges $38 Billion to Shore Up Its Critical Supply Chains

South Korea has pledged to spend 55 trillion won ($38 billion) over the next three years to shore up the nation’s supply chain for critical minerals and the components needed for key industries, like electric vehicles and battery making.

The hefty investment comes as Korea seeks to shield itself from an escalating US-China trade war and minimize the impact tariffs that are being levied on companies from other nations may have on its own supply chain.