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• Time of issue:2024-06-28 15:23
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(Summary description)At a trilateral meeting of senior industry officials in Washington, D.C., on Wednesday, South Korea, the United States and Japan agreed to strengthen cooperation in semiconductor and battery supply chains. South Korean Minister of Trade, Industry and Energy Undergun, US Secretary of Commerce Gina Raimondo and Japan's Minister of Economy, Trade and Industry Ken Saito also pledged further cooperation between the three countries on key minerals, export controls on advanced technologies and implementation of the US-led Indo-Pacific Economic Framework (IPEF). "Our common intention is to use this trilateral mechanism to promote the development of critical and emerging technologies and strengthen the security and resilience of our economies," they said in a joint statement. they "We reaffirm our recognition that semiconductors play an important role in a wide range of industries and applications that are critical to our economic growth and the maintenance of our national security." They also expressed concern that "strategic commodity supply chains may be vulnerable as a result of various non-market policies and practices," an apparent reference to China. In addition, the ministers of Industry of South Korea and Japan met to discuss strengthening bilateral cooperation in the field of clean hydrogen energy. South Korea's Ministry of Trade, Industry and Energy and the U.S. Department of Energy co-hosted the U.S.-Korea Clean Energy Forum in Washington, D.C., on Tuesday. The United States, Japan and South Korea pledged to cooperate more closely on building more resilient supply chains and developing key technologies, including semiconductors and critical minerals. "It is our shared intention to use this trilateral mechanism to promote the development of critical and emerging technologies and to strengthen the security and resilience of our economies," the three countries said in a joint statement after a meeting between US Commerce Secretary Gina Raimondo, Japan's Minister of Economy, Trade and Industry Ken Saito and South Korea's Minister of Industry, Trade and Resources Ken Undergun. For example, the three countries aim to promote the development of rare earth element technology, a field that China currently dominates. Recently, the three countries have expressed concern about "non-market measures" in this area. Eu Competition Commissioner Margrethe Vestager met online with representatives of the three countries ahead of the trilateral meeting to discuss strengthening the supply chain of key technologies. Japanese Finance Minister Saito told a news conference in Washington that the Allies were closely watching Chinese investment in the domestic semiconductor industry. In particular, he pointed to China's rapid capacity expansion in traditional chips, old-generation semiconductors, which are widely used in automotive and other key industries. "Through discussions with the US, South Korea and the EU, I sense that China's excess capacity, including traditional chip manufacturing, is something that Allies are very interested in," said Mr Saito.