Supply Chain Analysis of Korean Firms’ Overseas Production Bases Using Bill of Lading Data

COVER STORY This study empirically analyzes the supply chain structure of Korean firms’ major overseas production bases in Vietnam, Mexico, India, the Philippines, and the United States using bill of lading (B/L) data. The analysis finds that Korean firms’ global supply chains are characterized by a multilayered division of production, in which intermediate inputs are sourced primarily from Korea and China, processed or assembled locally, and then exported to major destination markets such as the United States and China or sold in local markets. Each production base performs a distinct role within this global network. In particular, overseas production bases are becoming increasingly important as key hubs for exports to the United States, while changes in the trade policy environment of host economies may also spill over into Korea’s domestic industrial ecosystem. Accordingly, a multi-pronged policy response is needed that takes into account the entire supply chain, including overseas production bases, and encompasses broader trade policy responses, improvements in trade structures, a stronger domestic production base, and enhanced support systems for Korean firms operating abroad.