It was reported on the 27th that the Ministry of Trade and Industry (MOTI) is pushing a plan to establish a new "Office of Industrial Security" (tentative name). As supply chain risks grow due to the United States' tariff policy and China's control of rare earths, the aim is to create an organization to respond.
According to ChosunBiz reporting, the Office of Industrial Security is being pursued by expanding and reorganizing the Resource Industry Policy Bureau and the Nuclear Power Strategy Planning Office into an office-level body. The Resource Industry Policy Bureau and the Nuclear Power Strategy Planning Office were under the Energy Policy Office. On Oct. 1, with the establishment of the Ministry of Climate, Energy and Environment, the Energy Policy Office was transferred, but the Resource Industry Policy Bureau and the Nuclear Power Strategy Planning Office remained with the Ministry of Trade and Industry (MOTI).
The Ministry of Trade and Industry (MOTI) says the creation of the Office of Industrial Security is needed as supply chain uncertainty expands amid the spread of protectionism. It says stockpiling rare earths and critical minerals, developing resources in third countries, and diversifying supply chains are needed to respond to trade restrictions by major countries such as the United States and China.
Under the Office of Industrial Security, the Resource Industry Policy Bureau will encompass the following: ▲ Resource Security Policy Division ▲ Petroleum Industry Division ▲ Gas Industry Division ▲ Coal Industry Division ▲ Mineral Resources Team. In addition, under the Nuclear Power Strategy Planning Office are the following: ▲ Nuclear Power Export Promotion Division ▲ Nuclear Power Export Cooperation Division.
To form an office-level unit, at least three bureau-level organizations are required. Accordingly, there is discussion of bringing under the Office of Industrial Security either the Industrial Supply Chain Policy Officer (Industrial Supply Chain Policy Division, Materials-Parts-Equipment Development Division, Steel and Ceramics Division, Chemical Industry Team) under the Industrial Policy Office or the Trade Security Policy Officer (Trade Security Policy Division, Trade Security Review Division, Technology Security Division) under the Trade and Investment Office.
The creation of the Office of Industrial Security requires approval from the Ministry of the Interior and Safety (MOIS) and the Ministry of Economy and Finance (MOEF). An MOIS official said, "We are currently reviewing it internally and no conclusion has been reached yet," and added, "Given that this reorganization would be an 'as-needed organizational decree' rather than a 'regular organizational decree,' a conclusion may come after the statutory deadline for next year's budget bill processing (Dec. 2)."