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  • U.S. Dept. of Commerce states, "Cooperation benefits both countries in chip industry"
    2021-09-17 hit 729

    “America’s leadership in semiconductors must be restored, and Korea is a core partner” says U.S. Department of Commerce


    “Korea and the U.S. share values. Cooperation benefits both countries.”

     

    The U.S. Department of Commerce released an opinion stressing the need to cooperate with Korea to restore the competitiveness and leadership of the American semiconductor industry. This viewpoint was released by Don Graves, the Deputy Secretary of the U.S. Department of Commerce, at an online seminar “Supply Chain Resilience: Opportunities for U.S.-Korea Cooperation)” co-hosted by the Korea International Trade Association (KITA) and the Center for Strategic and International Studies (CSIS) on September 8 (U.S. local time). He made it clear that, “Supply chain recovery is the top priority of the Joe Biden administration” and stressed this constitutes an integral part of the “Build Back Again” agenda. The Deputy Secretary mentioned, “The Department of Commerce is at the center to push forwards efforts to restore the supply chain.”


    The Deputy Secretary stated, “The pandemic revealed how weak our supply chain is” by citing delays of shipping during the aggravating situation of the Covid pandemic. He touched upon global semiconductor supply shortages and highlighted the risk of such shortages by stressing, “Semiconductors are a vital source of our everyday lives.” The Deputy Secretary views semiconductor shortages can not only immediately put America’s core industries at risk, but also result in a threat to America’s leadership in the supply chain sector.


    The Deputy Secretary emphasized, “Restoring the competitiveness and leadership in the semiconductor industry are priorities on which we need to focus” by noting the sobering reality of the diminished share of American-made semiconductors from 37% to 12% in the global market compared to 20 years ago. He speculates world-wide production of semiconductors and production methods tailored to each nation attributed to mounting weaknesses to the supply chain. Against this backdrop, he mentioned, “It is critical that the U.S. works with its allies like South Korea” and defined Korea as a core partner of restoring competitiveness and leadership of the American semiconductor industry.


    He praised the deepened Korea ? U.S. partnership, citing the provision of Korean PPEs during the Covid pandemic and supplying American vaccines for the Korean military. He also stressed the importance of Korean companies’ decision to invest in the U.S., which was announced during the South Korean president Moon, Jae-in’s visit to the U.S. The Deputy Secretary mentioned, “The U.S. and Korea share values” and noticed the need to uphold free and open competition in the field of technology, including semiconductors. He also mentioned, “The U.S. and Korea should promote market-led advancements in the global industry” and pointed out bilateral cooperation will translate into benefits for the economy of both Korea and the Unites States.


    Substantial amount of attention has been invested by the Joe Biden administration to respond to mounting global semiconductor shortages, which triggered the administration to set this issue as an important agenda directly affecting national security. The United States also views China’s growing prominence in the emerging technology sector as an imminent risk. The Deputy Secretary Don Graves expressed discontent on the challenges posed by China in the emerging technology sector by mentioning, “China often does not play by our rules” and stressed the need to cooperate with allies, such as Korea to promote fair competition in the global market.


    [This article is provided by Newsis]

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