Finance minister urges tech innovation, supply chain cooperation to spur future growth

Finance Minister Koo Yun-cheol speaks during an economy-related ministers' meeting in Seoul, Friday. Yonhap

Finance Minister Koo Yun-cheol called for efforts Monday to create new growth opportunities through technological innovation and supply chain cooperation amid changing global circumstances.

Koo made the call at a conference in Seoul jointly hosted by the Korea Development Institute (KDI) School of Public Policy and Management and the Singapore-based Lee Kuan Yew School of Public Policy, which focused on the challenges and policy responses facing Asia amid deepening Sino-U.S. tensions under the second Donald Trump administration.

"Rapid restructuring of global supply chains is presenting new challenges to Korea and other Asian countries, which have grown on the principles of openness and autonomy," Koo said.

"Now is the time to create new growth opportunities through technological innovation and supply chain cooperation. Working with major trading partners is more important than ever," he added.

The Korean government aims to secure stable supply chains by implementing a series of economic-security measures and maintaining regular dialogue channels with key nations for joint investments and other cooperative responses, particularly in critical minerals, according to the minister.