South Korea’s K-Chips Act, which the National Assembly passed in late March, seeks to safeguard economic priorities and foster a vibrant semiconductor industry for the country. But the law is not just about chips, putting Seoul on a better footing to navigate the complex landscape of international trade, strategic priorities and foreign relations.

The K-Chips law is emblematic of South Korea’s efforts to develop a new economic security strategy in an increasingly uncertain geopolitical environment. By redoubling indigenous technological innovation, South Korea can ensure future success in the global semiconductor market and gain leverage in shaping the industry’s rules and dynamics.