Samsung Electronics Chairman Lee Jae-Yong and SK Group Chairman Chey Tae-won are predicted to have their visit the United States forthcoming month. This is to accompany President Yoon Seok-Yul in the course of the KORUS summit scheduled for April 26.
Noticeably, this month Lee’s visit to China is almost after three years. The purpose of this visit is to attend the 2023 China Development Forum in Beijing from March 25 to 27. Chairman Chey also visited China in order to attend the Boao Forum. In addition to this, Lee met with State Council Premier Li Qiang also tend likely to do so.
It is to be worth informing you here that these schedules are due to the semiconductor industry of South Korea being stuck between the United States and China. While the US policies in the sector pressurize Samsung and SK Hynix to select between the U.S. and China. It means, to ascertain fresh investments in the United States. Followed by subsidies from the U.S. government. Or to expand based on their earlier large-scale facilities in China.
Recently it has come to notice and is being disclosed that U.S. government-subsidized semiconductor companies are prohibited from raising their semiconductor facility in China by 5 percent or more in the span of the next 10 years. Since the Joe Biden administration encouraged export control in October last year. This is in order to block semiconductor equipment supply to China. Also, the control came with one year grace period for South Korea and the period will end later this September.
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