KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home Semiconductor

Korea to expand bilateral ties with the U.S. to resolve semiconductor shortage

KoreaTechToday Editor by KoreaTechToday Editor
PUBLISHED: November 12, 2021 UPDATED: November 20, 2021
in Semiconductor, South Korea, U.S.
0
Korea to expand bilateral ties with the U.S. to resolve semiconductor shortage

The U.S. and South Korea governments will be working together to stabilize the global supply-chain issue in the semiconductor industry. The issue was discussed on Thursday in a meeting conducted between Sung-Wook, the Korean trade, industry, and energy minister, and Gina Raimond, the U.S. secretary of Commerce. Sung-Wook has urged the U.S. to protect the semiconductor data requested by their government to resolve the shortage in the chip market. 

Earlier this week, the U.S. government urged South Korean chipmakers such as Samsung and SK Hynix to submit semiconductor data in order to reckon gridlocks in the global supply chain. Consequently, the meeting between Sung-Wook and Gina was held for further discussion on the subject. 

“The request was inevitable due to the ongoing global supply chain problems,” Gina stated as she spoke to the media through a release. “We appreciate the South Korean companies’ cooperation, we are well aware of their concerns, and we will protect the data and information thoroughly,” she added. 

At present, Samsung and SK Hynix are two major contributors to the global chip production industry, where Samsung leads the market at the second rank. The duo produces around 70% of the chip production supplied to the global market. 

Bilateral talks between the two countries will continue from the first week of December. This is considered to be the next step in their commercial relations and is expected to enhance the cooperation on resolving the global semiconductor issue. 

The talks will be virtual; the release stated where Moon said, “With regard to semiconductors, (the sides) agreed to create a new semiconductor partnership dialogue and hold its first meeting on Dec. 8.”

Although the discussions have been at the directorial level until now, the meetings hereon will be held on the ministerial level, including experts and enterprises from both nations. 

Along with the semiconductor issue, the ongoing steel tariff concerns were addressed as well in the meeting. At present, the U.S. has waived off a 25% tariff on steel imports. However, the South Korean counterparts have requested the amendment of the Section 232 tariffs on aluminum and steel imports and their import quota be raised. 

Responding to the import issue, the U.S. official has stated that the annual steel exports by South Korea, which is at 70% presently, cannot be increased further. 

The agreement has expanded the semiconductor commercial forum for the two nations to work on technology and investment priorities in the semiconductor sector. The semiconductor shortage issue has impacted global firms and organizations on a considerably large level. The duo working together, the ties are expected to bring results for the greater good while strengthening their bilateral ties. 

Tags: korea newsSemiconductor

Related Posts

South Korea, BlackRock Team Up to Build Hyperscale AI Data Center Hub
Data Center

South Korea, BlackRock Team Up to Build Hyperscale AI Data Center Hub

October 1, 2025
Global API Standardization Gets a Push with SK Telecom–Aduna Partnership
AI

Global API Standardization Gets a Push with SK Telecom–Aduna Partnership

September 23, 2025
$12B Crypto Wave: How Young Koreans Are Shaping Global Markets
Cryptocurrency

$12B Crypto Wave: How Young Koreans Are Shaping Global Markets

September 1, 2025
Caught Between Giants: How U.S. Export Controls Reshape South Korea’s Semiconductor Strategy
Samsung

Caught Between Giants: How U.S. Export Controls Reshape South Korea’s Semiconductor Strategy

September 1, 2025
Samsung and SK Hynix Face New U.S. Licensing Rules for Chinese Chip Plants
China

Samsung and SK Hynix Face New U.S. Licensing Rules for Chinese Chip Plants

August 31, 2025
South Korea Eyes Global AI Leadership with Record 8.1% Budget Hike
AI

South Korea Eyes Global AI Leadership with Record 8.1% Budget Hike

August 30, 2025
No Result
View All Result

Most Popular

  • Ride-Hailing Rivalry: Kakao and Uber Bet on Membership Services in Korea

    0 shares
    Share 0 Tweet 0
  • Kakao Mobility Faces $10.5 Million Fine for Limiting Competitors’ Access to Taxi Platform

    0 shares
    Share 0 Tweet 0
  • Korea’s Navigation Battle Heats Up: Naver and Kakao vs. Google maps

    0 shares
    Share 0 Tweet 0
  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • Naver Launches 3D Street View for Immersive Navigation Experience

    0 shares
    Share 0 Tweet 0
  • KakaoTalk to Adopt Instagram-Style Feed in Major 2025 Redesign

    0 shares
    Share 0 Tweet 0
  • Naver Maps Launches Guide in English, Chinese, and Japanese to Enhance Travel Experience for Tourists

    0 shares
    Share 0 Tweet 0
  • Top Nine Mobile MMORPG in South Korea for 2020

    0 shares
    Share 0 Tweet 0
  • Naver Unveils Asia’s Largest Data Center, GAK Sejong, for Tech Innovation

    0 shares
    Share 0 Tweet 0
  • South Korea Invests $1.1B to Build National AI GPU Infrastructure

    0 shares
    Share 0 Tweet 0

PRODUCTS

[ads_amazon]

TOPICS

  • Naver
  • Kakao
  • Nexon
  • Netmarble
  • NCsoft
  • Samsung
  • Hyundai

FREE NEWSLETTER

FOLLOW US

  • About Us
  • Cookie policy
  • home
  • homepage
  • mainhome
  • Our Services
  • Privacy Policy
  • Terms of Use

Copyright © 2024 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : [email protected] |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Lists

Copyright © 2024 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : [email protected] |