China And South Korea Agree To Strengthen Chip Industry Chat

JAKARTA - On the sidelines of a Asia-Pacific Economic Cooperation (APEC) conference in Detroit on Friday, the Minister of Trade of the People's Republic of China, Wang Wentao met with South Korean Trade Minister Ahn Duk-geun.

During the meeting, China and South Korea had agreed to strengthen dialogue and cooperation in the supply chain of the semiconductor industry, amid broader global concerns over the supply of chips, sanctions and national security, China's trade minister said.

Not only that, the following day they also exchanged views on maintaining the stability of the industrial supply chain and strengthening cooperation in bilateral, regional and multilateral fields, according to a statement from the Chinese Ministry of Trade.

In his discussion, Wang said that China was willing to cooperate with South Korea to deepen trade relations and investment cooperation.

However, South Korea did not mention chip issues, but said the country's trade minister had asked China to stabilize the supply of key raw materials, and asked for a predictable business environment for South Korean companies in China.

"The South Korean side stated that communication is needed between working-level officials in all industries, not just for semiconductors," a source familiar with the matter told Reuters.

On the other hand, the United States (US) has encouraged countries to limit China's access to advanced chips, for a number of reasons including national security.