US, South Korea Agree to Cooperate on Chip Export Controls

US and South Korea agreed to strive to closely cooperate on advanced semiconductors to implement necessary measures that protect national security while minimizing disruptions to global semiconductor supply chains, according to a statement from Department of Commerce.

• The statement came after a meeting between Secretary of Commerce Gina Raimondo and South Korea’s Industry Minister Lee Chang-yang
  • The statement didn’t specifically mention China
• Both agreed to maintain viability of semiconductor industries and encourage technological advancement
• Chiefs also agreed to continue discussions on the requirements and opportunities of the CHIPS Act and Korean incentives to minimize uncertainties of corporate investments and business ...