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Industry Minister Ahn Duk-geun Pledges Collaboration with Incoming Trump Administration to Stabilize Semiconductor Sector.

Seoul: South Korea's Industry Minister Ahn Duk-geun announced a commitment on Wednesday to prioritize efforts aimed at reducing uncertainties in the semiconductor sector by working closely with the incoming U.S. administration under Donald Trump. Minister Ahn highlighted the importance of monitoring potential shifts in U.S. policy and preparing for various outcomes, given the United States' significance as a major market and investment hub for Korean semiconductor companies. According to Yonhap News Agency, Ahn made these remarks during a meeting with representatives from major South Korean chip manufacturers, including Samsung Electronics Co. and SK hynix Inc. He stressed the need for ongoing dialogue with the new U.S. administration through diplomatic and trade channels to address potential challenges. The South Korean government aims to mitigate uncertainties, particularly those related to potential policy changes such as universal tariffs or amendments to investment subsidies outlined in the CHIPS and Sc ience Act. South Korea's semiconductor industry, being the country's largest export sector, faces increasing concerns about the impact of U.S. policy changes on global supply chains. Both Samsung Electronics and SK hynix have expressed intentions to either build or expand their facilities in the United States, underscoring the need for stable bilateral relations. Industry officials at the meeting emphasized the necessity for robust cooperation between South Korea and the U.S. to safeguard the stability of South Korean investments and exports. The Korea Semiconductor Industry Association underscored the potential global implications of significant policy shifts in the U.S., given the interconnected nature of major chip-producing countries like South Korea, the U.S., and Taiwan. Such changes could reverberate throughout the international semiconductor supply chain, making it imperative for the South Korean government to engage proactively with the incoming U.S. administration.

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