The Ministry of Economy, Trade and Industry plans to add new items, including undersea cables and satellites, to come under the purview of the economic security policy amid an increasingly uncertain geo-economic climate.
The ministry's panel of experts discussed these new items as part of its revised economic security strategy on Tuesday. As major global powers — the U.S. and China — become more protectionist, securing resources for key industries has become vital for economic security.
Under the Economic Security Promotion Act, the government implements a range of measures to secure vital supply chains, from providing subsidies and low-interest loans to coordinating regulations, stockpiling essential goods, setting up critical infrastructure, and protecting advanced technologies.
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