Days after South Korean president skipped to meet U.S. politician Nancy Pelosi, #SouthKorea Foreign Ministers Park Jin started his three-day visit to #China. This is the first high-level visit to China by President Yoon Suk-yeol’s administration.
#Asia #semiconductor #CHIPSAct
#Asia #semiconductor #CHIPSAct
The foreign ministers of #SouthKorea and China met in #Qingdao, China Tuesday and pledged to develop closer relations and maintain stable industry supply chains, which has drawn close attention in the semiconductor sector as U.S. President Biden signed the #CHIPSAct into law.
According to Korea Times, the $280 billion U.S. #CHIPSAct included billions of incentives to prevent chip manufacturers from upgrading facilities for the next 10 years in countries such as #China, which accounted for 60 percent of #SouthKorea’s semiconductor exports last year.
The two countries didn’t disclose talk details about the potentially quadrilateral group “Chip 4.” Park stressed #China as a “strategic cooperative partner,” and expected to repeat the country’s stance that the group should not be a tool of “excluding a certain country.”
#Asia
#Asia
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