position: EnglishChannel  > Insight> China Remains Vital Market for Korea

China Remains Vital Market for Korea

Source: Science and Technology Daily | 2023-07-27 10:00:30 | Author: GONG Qian


Samsung Electronics has reported a likely 96 percent plunge in second-quarter operating profit. (PHOTO: VCG)

Edited by GONG Qian

Amid intensifying U.S.-China rivalry, Korea Chamber of Commerce and Industry Chairman Chey Tae-won has warned, "Losing the huge Chinese market would be irrecoverable for us." Other Korean businesses probably feel the same way.

Korean semiconductor manufacturers are particularly nervous. They were given just a one-year grace period under the U.S. CHIPS and Science Act designed to boost investment in American high-tech research and development and bring semiconductor manufacturing to the U.S. Samsung manufactures 40 percent of its NAND flash chips in China, while SK Hynix produces 40 percent of its DRAM and 20 percent of its NAND flash chips there. SK paid Intel 7 billion USD for a NAND flash plant in Dalian, China and could end up suffering losses if no more investment can be made.

U.S. manufacturers are also reeling. China accounts for a third of global semiconductor sales, while computer chips manufactured in the U.S. are ultimately assembled and tested in China. U.S. media reports are saying that Washington cannot afford to shut out Beijing because of the heavy dependence of the American semiconductor industry on China.

The Chinese economy is bigger than those of the G7 combined excluding the U.S., which is why the EU for instance does not always toe U.S.' line when it comes to China. The role of the Korean government, too, is to find a wise balance between maintaining its principles and ensuring flexibility at the same time in dealing with China.

Editorial, The Chosun Ilbo, 14-07-2023.

Editor:齐笠名

Top News

Top Journal Youth Talk |Yang Xiao: Under the Canopy of Molecular Plant, I Have Also Grown into a Sturdy Tree

What do you think when you hear of a magazine called Molecular Plant? Is it about molecular cuisine or growing molecule-size plants?Neither of them! Molecular Plant is an internationally renowned plant science journal founded in China, with an impact factor that has topped all research journals in its field globally for three consecutive years. Let's go to the editorial office of Molecular Plant to know more.

WEEKLY REVIEW(Dec.14-20)

China sent the first group of low Earth orbit satellites for a satellite Internet constellation from the Wenchang Space Launch Site in south China's Hainan province on December 16. The launch marked the 552nd mission of the Long March series carrier rockets.

抱歉,您使用的浏览器版本过低或开启了浏览器兼容模式,这会影响您正常浏览本网页

您可以进行以下操作:

1.将浏览器切换回极速模式

2.点击下面图标升级或更换您的浏览器

3.暂不升级,继续浏览

继续浏览