China and South Korea intensify chip industry negotiations. China’s commerce minister said China and South Korea would improve semiconductor supply chain talks and cooperation amid global worries over chip supplies, sanctions, and national security.
Wang Wentao met with South Korean Trade Minister Ahn Duk-Geun at the APEC summit in Detroit, which ended Friday.
On Saturday, the Chinese Ministry of Commerce discussed industry supply chain stability and bilateral, regional, and international cooperation.
Wang also said China wants to expand trade and investment with South Korea.
South Korea’s trade minister encouraged China to stabilize crucial raw material supplies and provide a predictable business climate for South Korean enterprises in China. However, the statement did not name chips.
A source told Reuters that the South Korean side “expressed that communication is needed between working-level officials over all industries,” not just semiconductors. The source declined to be identified since they were not authorized to speak to the media. The US-China semiconductor dispute involves South Korea.
Last week, China’s cyberspace authority said Micron (MU.O) failed its network security examination and would bar major infrastructure operators from buying from the business. The U.S. wants countries to block China’s access to advanced processors for national security grounds.
According to trade ministry data, 40% of South Korea’s semiconductor exports go to China, while Samsung Electronics (005930. KS) and SK Hynix (000660. KS) need U.S. technology and equipment.
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