The economic security promotion law, which was enacted in May, aims to comprehensively and effectively facilitate the implementation of economic policies to achieve national security.

The law is made up of four pillars: strengthening supply chains for critical materials; ensuring the security of core infrastructure; promoting the development of key advanced technologies; and keeping patents on sensitive technologies that could be used for military purposes undisclosed.

The government had been implementing economic security-related policies under the framework of the security export control system based on the Foreign Exchange and Foreign Trade Law.