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S.Korea says discussing ways to strengthen cooperation with U.S. on chips

July 14, 2022

SEOUL, July 14 (Reuters) – South Korea said on Thursday it is discussing with the United States ways to strengthen cooperation on chip-making, according to the presidential office.

“The U.S. emphasised several times the importance of partnership in the chip sector in its supply chain review report in June last year,” a presidential official said.

The presidential office declined to comment when asked whether South Korea would join a U.S.-led chip alliance.

The U.S. government had asked South Korea to inform it by the end of August whether it would participate in a U.S.-led chip alliance, called “Chip 4”, to cope with semiconductor supply chain problems, Yonhap said citing unnamed sources in Washington.

The prospective alliance would involve the United States, Taiwan, Japan and South Korea, Yonhap reported.

China is South Korea’s biggest trade partner. Out of South Korea’s $69 billion memory chip exports in 2021, exports to China took up 48%, according to Korea International Trade Association data.

Source: https://www.reuters.com/business/skorea-us-discussing-ways-strengthen-cooperation-chips-yonhap-2022-07-14/

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