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Bloomberg
South Korean President Yoon Suk Yeol and Dutch Prime Minister Mark Rutte discussed ways to enhance economic security ties, seeking cooperation in the chip industry after US export curbs to China rattled the global semiconductor market.
The two “underscored the significance of further strengthening existing collaboration between the two countries’ semiconductor industries and expressed their intention to support the private sector in order to sustain a resilient supply chain in that sector,†according to a joint statement released after their summit in Seoul Thursday.
The statement made no mention of China or the US, or provided details of any cooperation between the powerhouse chipmakers in their respective countries trying to navigate the Biden administration’s semiconductor controls.
The US has been pressuring allies and partners including South Korea and the Netherlands to comply with the sweeping curbs on the sale of advanced chips in a policy aimed at preventing China’s advance in a range of cutting-edge technologies that could threaten America’s status as the world’s pre-eminent power.
Chinese President Xi Jinping urged the Dutch leader to avoid “decoupling†as the US pressures the Netherlands. Xi called for increased cooperation in high-tech manufacturing with South Korea.