글로벌가치사슬(GVC)의 재편에 따른 위험의 경감 대응책에 관한 고찰: 한국의 대응책을 중심으로

A Study on Risk Mitigation Measures Due to the Reorganization of Global Value Chains (GVC): Focusing on Korea’s Response

Purpose - The purpose of this study is to examine the risks and opportunities resulting from the reorganization of the global value chain, and then analyze Korea’s response measures. Design/Methodology/Approach - This research analyzes strategies to minimize GVC risks and specific measures debated in the literature, internet data, and other sources. Findings - There are still gaps in understanding of GVC risks, and governments can plan to play a proactive role in bridging these gaps. Several government initiatives have already been implemented, or are planned, to coordinate data and analysis. Some governments have decided on domestic production amid concerns that the over-concentration of manufacturing, which is an essential input for the economy, could comprise supply resilience. Research Implications - Most actions to improve resilience are undertaken by firms rather than governments; there is debate about governments taking a more active role in coordinating data collection, analyzing GVC risks, and working with private firms to promote standards of conduct. In contrast, there is less agreement about governments restructuring GVCs using financial incentives, regulatory requirements, and direct government control. The reorganization of GVCs is both an opportunity and a crisis for Korea. If the government’s reshoring policy is successful, it can lead to a virtuous cycle of increased domestic investment by firms, which will create more jobs and boost the economy.