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Foreign Ministry to Open Economic Security Center

Written: 2021-12-04 14:03:15Updated: 2021-12-04 14:26:29

Foreign Ministry to Open Economic Security Center

Photo : KBS News

The Ministry of Foreign Affairs will operate a center on economic security to better respond to global supply chain issues.

An official said Friday the ministry's 2022 budget approved in parliament includes two-point-five billion won for establishing the center.

Personnel recruitment will begin next year and the center is expected to open as early as February or March. Ten experts will serve at the foreign ministry while others will be stationed at overseas missions.

The official said the center will assist a related task force the ministry launched last month and will aim to establish a system for the early detection, analysis and management of economy, technology and security-related issues.

The center will prevent and ease external supply chain risks to the Korean economy and support overseas business activities of major firms and, in this process, also expand cooperation with like-minded countries sharing similar positions.

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