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S. Korea-US cooperation to stabilise semiconductor supply chain

Regarding the request to submit semiconductor business data by US Secretary of Commerce Gina Raimando, Minister Moon said, “It was an inevitable measure under unprecedented circumstances,” on the 9th (local time).

Minister Moon, who is visiting the US, had a press conference after the meeting with Secretary Raimando, and said, “Secretary Raimando mentioned that it was an inevitable measure under unprecedented situation, in which a mismatch occurred in the supply chain.” He also said Secretary Raimando is well-aware about the concerns over confidential information security, and mentioned that business information will be absolutely safe.” In addition, he said the notice that the information sharing was a one-time measure and the business data will be safely protected was posted on the U.S. Department of Commerce and the two sides have confirmed this notice. He added that it seemed to be processed to a level where both sides are satisfied.

Regarding the US Department of Commerce’s additional measures, Minister Moon said, “There was no mention of additional measures.” He said, “This does not mean that there will never be additional requests, but she said it was an inevitable measure under the very unusual situation.” Minister Moon predicted that the submitted data will be analyzed for a considerable time.

He also added that negotiations between Korean companies and the US. Department of Commerce continued during the submission process.

Regarding this, he said the US Department of Commerce agreed to cooperate together to stabilize the global semiconductor supply chain in the future.

Minister Moon also announced that the ministers agreed to expand director-level ‘Korea-US. Industrial Cooperation Dialogue’ to the ministerial one.

Therefore, this bilateral dialogue, which is a channel to discuss various topics such as policy, investment, and technology information designated by the Ministry of Industry and the US.

Department of Commerce is expected to expand to a platform discussing various cooperation measures such as semiconductor, future car, bio, human resources training, mutual investment cooperation, and joint entry into third countries. ANI

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