Is Economic Security National Security? Defining South Korea’s Economic Security for Future Industries

economy geared towards future industries via the Inflation Reduction Act (IRA) and the Chips & Science Act.2 The IRA increases public investment in green energy and inclusivity, and the second aims to bring back chip manufacturing to the United States to complete the semiconductor production ecosystem – of which the United States lacks sufficient foundries – to prevent supply chain issues in the f. [...] industrial policy in the aftermath of the pandemic and amidst the geopolitical turmoil from the ongoing war in the Ukraine. [...] As we will see in the third section regarding the K-Chips Act, the Ministry of Economy and Finance (MOEF), the Ministry of Trade, Industry and Economy (MOTIE) and the Ministry of Science and Technology (MOST) have been grappling with the task of designing policy solutions for economic security. [...] At the public sector level, with Deputy Prime Minister for Economy Chu Kyung-ho at the helm, the heads of MOTIE, the Ministry of Land, Infrastructure and Transport (MOLIT), the Ministry of SMEs and Startups, the Ministry of Science and ICT (MSIT), the Ministry of Education (MOE), the Ministry of Agriculture, Food and Rural Affairs (MAFRA), the Ministry of Environment (MOE), the Financial Services. [...] subsidies provided by under the Chips and Science Act and the IRA were shared by Taiwan and France.18 Severe competition in the global market is the harsh reality for South Korean companies – the big four conglomerates are striving to maintain their standing and to hold onto South Korean talent.19 In writing and passing the Act On Special Measures For Strengthening The Competitiveness Of, And Prot.