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KITA: Over 80% of S. Korean Exporters Affected by Global Supply Chain Disruptions

Written: 2022-05-02 18:40:01Updated: 2022-05-02 18:54:18

KITA: Over 80% of S. Korean Exporters Affected by Global Supply Chain Disruptions

Photo : YONHAP News

A recent survey shows that eight out of 10 South Korean exporters are exposed to the risks of global supply chain disruptions. 

According to a think tank affiliated with the Korea International Trade Association on Monday, around 11-hundred exporters which posted 500-thousand U.S. dollars in outbound shipment or more last year, 85-point-five percent said they are suffering the fallout from global supply chain disruptions. 

Delay in distribution and a rapid hike in logistical costs were cited as two of the biggest problems those companies are facing, while a rise in raw material prices and worsened profitability were also cited as notable challenges. 

However, those citing a hit to supply and demand, which could directly affect their production, stood at less than 12 percent of the surveyed. 

As for government assistance needed most, nearly 40 percent of the companies called for measures to ease delay in distribution, such as securing more freight space, as well as aid regarding shipping cost.

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