{"id":2204084,"date":"2024-03-06T08:00:36","date_gmt":"2024-03-05T23:00:36","guid":{"rendered":"https:\/\/koreapro.org\/?p=2204084"},"modified":"2024-03-05T15:25:03","modified_gmt":"2024-03-05T06:25:03","slug":"us-and-south-korea-discuss-chip-cooperation-amid-long-term-industry-concerns","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/03\/us-and-south-korea-discuss-chip-cooperation-amid-long-term-industry-concerns\/","title":{"rendered":"US and South Korea discuss chip cooperation amid long-term industry concerns"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korea\u2019s deputy trade minister Yang Byeong-mo <\/span><a href=\"https:\/\/www.motie.go.kr\/kor\/article\/ATCL3f49a5a8c\/168706\/view?mno=&amp;pageIndex=1&amp;rowPageC=0&amp;displayAuthor=&amp;searchCategory=0&amp;schClear=on&amp;startDtD=&amp;endDtD=&amp;searchCondition=1&amp;searchKeyword=#\"><span style=\"font-weight: 400;\">met<\/span><\/a><span style=\"font-weight: 400;\"> with John Neuffer, the president of the Semiconductor Industry Association, an American trade association and lobbying group, to discuss enhancing bilateral semiconductor trade and cooperation. The discussions revolved around the implementation of the <\/span><a href=\"https:\/\/koreapro.org\/2023\/09\/us-commerce-department-restricts-chips-fund-recipients-on-concerning-expansion\/\"><span style=\"font-weight: 400;\">U.S. CHIPS Act<\/span><\/a><span style=\"font-weight: 400;\"> and strategies for strengthening supply chain links between the two countries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The dialogue further emphasized the commitment to deepening public-private collaboration within the semiconductor sector in anticipation of market growth, particularly in artificial intelligence chips. Both parties proposed to intensify these collaborations to bolster global competitiveness and effectively address the uncertainties in the trade environment.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The meeting between Yang and Neuffer signals South Korea\u2019s attempts to mitigate the erosion of its semiconductor industry\u2019s global standing. Although South Korea\u2019s <\/span><a href=\"https:\/\/www.motie.go.kr\/kor\/article\/ATCL3f49a5a8c\/168695\/view?mno=&amp;pageIndex=2&amp;rowPageC=0&amp;displayAuthor=&amp;searchCategory=0&amp;schClear=on&amp;startDtD=&amp;endDtD=&amp;searchCondition=1&amp;searchKeyword=#\"><span style=\"font-weight: 400;\">semiconductor exports surged<\/span><\/a><span style=\"font-weight: 400;\"> in February, the country\u2019s global semiconductor market share has <\/span><a href=\"https:\/\/www.digitimes.com\/news\/a20240125PD202\/south-korea-exports-memory-chips-market-share.html#:~:text=The%20decline%20in%20South%20Korea's,2018%20to%209.4%25%20in%202022.\"><span style=\"font-weight: 400;\">declined<\/span><\/a><span style=\"font-weight: 400;\"> over the past several years amid <\/span><a href=\"https:\/\/koreapro.org\/2024\/02\/chinese-chip-firms-investment-in-south-korea-may-skirt-us-trade-restrictions\/\"><span style=\"font-weight: 400;\">China\u2019s growing market share<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Further exacerbating South Korea\u2019s chip sector, Taiwan Semiconductor Manufacturing Company\u2019s <\/span><a href=\"https:\/\/koreapro.org\/2024\/01\/why-south-korean-semiconductor-firms-face-opportunities-and-pitfalls-in-japan\/\"><span style=\"font-weight: 400;\">establishment of its first chip plant<\/span><\/a><span style=\"font-weight: 400;\"> in Japan and Intel\u2019s collaboration with Microsoft on custom computing chips signal a broader realignment within the semiconductor supply chain. These developments, coupled with the U.S.\u2019s strategic use of the CHIPS Act to bolster domestic manufacturing, highlight the urgency for South Korea to adapt.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, South Korea\u2019s dependence on <\/span><a href=\"https:\/\/koreapro.org\/2023\/05\/the-challenges-ahead-for-south-koreas-critical-minerals-strategy\/\"><span style=\"font-weight: 400;\">imported raw materials<\/span><\/a><span style=\"font-weight: 400;\"> and difficulty in attracting skilled workers \u2014 problems worsened by an <\/span><a href=\"https:\/\/koreapro.org\/2024\/02\/fertility-freefall-challenges-south-koreas-demographic-stability\/\"><span style=\"font-weight: 400;\">aging population<\/span><\/a><span style=\"font-weight: 400;\"> and competitive <\/span><a href=\"https:\/\/koreapro.org\/2024\/03\/why-a-push-to-reform-south-korean-spy-law-risks-a-diplomatic-fallout-with-china\/\"><span style=\"font-weight: 400;\">disparities in compensation<\/span><\/a><span style=\"font-weight: 400;\"> \u2014 raise concerns about the long-term viability of its semiconductor industry.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/inter-korean-foreign-relations\/\"><span class=\"tag\">Inter-Korean &amp; Foreign Relations<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/technology-cyber\/\"><span class=\"tag\">Technology &amp; Cyber<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korea\u2019s deputy trade minister Yang Byeong-mo met with John Neuffer, the president of the Semiconductor Industry Association, an American trade association and lobbying group, to discuss enhancing bilateral semiconductor trade and cooperation. The discussions revolved around the implementation of the U.S. CHIPS Act and strategies for strengthening supply chain links between the two countries. [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2204085,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,28,29],"class_list":["post-2204084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-inter-korean-foreign-relations","tag-technology-cyber"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US and South Korea discuss chip cooperation amid long-term industry concerns - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2024\/03\/us-and-south-korea-discuss-chip-cooperation-amid-long-term-industry-concerns\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US and South Korea discuss chip cooperation amid long-term industry concerns - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korea\u2019s deputy trade minister Yang Byeong-mo met with John Neuffer, the president of the Semiconductor Industry Association, an American trade association and lobbying group, to discuss enhancing bilateral semiconductor trade and cooperation. The discussions revolved around the implementation of the U.S. CHIPS Act and strategies for strengthening supply chain links between the two countries. 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