China said it has agreed with South Korea to strengthen dialogue and cooperation on semiconductor supply chains, amid global tensions over chip technology and supplies.
(Bloomberg) — China said it has agreed with South Korea to strengthen dialogue and cooperation on semiconductor supply chains, amid global tensions over chip technology and supplies.
Chinese Commerce Minister Wang Wentao met South Korea’s Trade Minister Ahn Duk-geun on Friday and said Beijing is ready to deepen bilateral trade and investment cooperation, according to a statement from China’s commerce ministry.
The two officials met during the 2023 APEC Trade Ministers meeting, and also exchanged views on maintaining the stability of the industrial supply chain and strengthening cooperation in bilateral, regional and multilateral fields.
Seoul Sees US Extending China Export Waivers for its Chipmakers
The US has ratcheted efforts to limit Chinese access to key semiconductor knowhow. The tech sector has become a key battlefield over national security between the two largest economies, with Washington having already blacklisted Chinese tech firms, cut off the flow of sophisticated processors and banned its citizens from providing certain help to the Chinese chip industry.
Ahn asked Wang to support forming a “predictable” business environment for South Korean companies operating in China, according to a separate statement.
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–With assistance from Sohee Kim.
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