Korea-U.S. Industrial Cooperation Dialogue subcommittee conference will be
inaugurated with an emphasis on cooperation on the supply
conference is to be held virtually due to the spread of the Omicron variant with
relevant officials from both the private and the government sector present
Ministry of Industry, Trade and Energy from Korea and the U.S. Department of
Commerce will hold a subcommittee meeting on semiconductor issues after
experiencing global semiconductor shortage since the outbreak of the Covid
pandemic. According to sources in Washington D.C., the two organizations will
hold an inaugural virtual subcommittee meeting aimed to forge closer ties of
cooperation in the semiconductor sector on December 8th at 6:00 PM
local time (December 9th at 8:00 AM Korean Time).
conference will be held in a teleconference format amid the recent spread of
the Omicron variant. Relevant officials from respective ministries, government
officers and relevant individuals from the private sector will also participate
in the conference. The scheduled conference will be held in accordance with an
agreement between Korea’s Industry Minister Moon Sung-wook and U.S. Commerce
Secretary Gina Raimondo, which was reached during Minister Moon’s visit to the
U.S. on November. The U.S. will deal the issue of its reliance on China and
Taiwan for semiconductors and semiconductor shortage as matters directly liked
to national security.
the gravity put by the U.S. government on the semiconductor supply chain issue,
the conference is earning attention to whether it will be a ground of
discussions for the two governments and multiple semiconductor companies to set
a direction of cooperation in the field of the semiconductor supply chain.
Minister Moon proposed a) tasks required to strengthening supply chain and
R&D between companies of the two countries, b) nurturing talented
professionals and c) investment in raw materials and subsidiary materials by
companies as themes to be discussed. A source based in Washington D.C.
mentioned, “The inauguration of the conference itself carries significance as
this conference establishes a communication channel of dialogue responding to
semiconductor issues” and added, “Both sides will be able to have opportunities
to raise questions to each other on semiconductor-related issues of their
concern ahead of risks surfacing as imminent problems.”
the U.S. Department of Commerce received supply chain information submitted by
global semiconductor companies, including TSMC, and Korean semiconductor
companies, including Samsung Electronics and SK Hynix. As the submission date
of this information and the date of the scheduled subcommittee conference is
roughly one month apart, there are prospects of the discussions related to the
submitted information might take place. It is reportedly known that the U.S.
Department of Commerce did not require additional information to Korean
news is provided by Newsis]