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S. KOREAN COMPANY'S OUTLOOK UNDER BIDEN ADMIN
입력 2021.02.26 (15:25) 수정 2021.02.26 (16:46) News Today
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동영상영역 시작
동영상영역 끝
[Anchor Lead]

U.S. President Joe Biden has issued an executive order calling for a supply chain review of semiconductors and electric vehicle batteries. While some say the measure seeks to reduce the U.S.' reliance on China, others say it's both an opportunity and a crisis for Korean companies.

[Pkg]

President Joe Biden's executive order is reminiscent of his predecessor's export restrictions against Huawei. Trump blocked the semiconductor supply. Huawei's status in the global smartphone market plunged from number one to the sixth slot in just five months. Korean makers of smartphones and telecommunication equipment benefited from this trend. The Biden administration appears determined to continue the containment policy against China. Its focus is on strengthening supply chains with allies and increasing domestic production.

[Soundbite] Kim Young-woo(SK Securities) : "It will be more difficult for Chinese companies to enter the U.S. market. It could be beneficial for Korean businesses."

Korean battery companies could seize the opportunity while China's CATL, the world's largest battery manufacturer, is barred from building its factories in the U.S. Samsung Electronics' plans to expand its semiconductor factories on American soil will likely get a boost. Korean businesses must keep a watchful eye on the situation in China, the largest importer of Korean products. If the U.S. goes ahead with its policy to protect its supply chains, this will deal a blow to Korea's exports to China. China could retaliate.

[Soundbite] Choi Yong-min(Korea International Trade Association) : "China rectified its laws last year. Those who inflict damage on Chinese government or companies must pay compensation."

The Washington-Beijing trade conflict provides both opportunity and crisis for Korean businesses. Diversifying supply chains to both sides seems necessary to find a solution.
  • S. KOREAN COMPANY'S OUTLOOK UNDER BIDEN ADMIN
    • 입력 2021-02-26 15:25:04
    • 수정2021-02-26 16:46:00
    News Today
[Anchor Lead]

U.S. President Joe Biden has issued an executive order calling for a supply chain review of semiconductors and electric vehicle batteries. While some say the measure seeks to reduce the U.S.' reliance on China, others say it's both an opportunity and a crisis for Korean companies.

[Pkg]

President Joe Biden's executive order is reminiscent of his predecessor's export restrictions against Huawei. Trump blocked the semiconductor supply. Huawei's status in the global smartphone market plunged from number one to the sixth slot in just five months. Korean makers of smartphones and telecommunication equipment benefited from this trend. The Biden administration appears determined to continue the containment policy against China. Its focus is on strengthening supply chains with allies and increasing domestic production.

[Soundbite] Kim Young-woo(SK Securities) : "It will be more difficult for Chinese companies to enter the U.S. market. It could be beneficial for Korean businesses."

Korean battery companies could seize the opportunity while China's CATL, the world's largest battery manufacturer, is barred from building its factories in the U.S. Samsung Electronics' plans to expand its semiconductor factories on American soil will likely get a boost. Korean businesses must keep a watchful eye on the situation in China, the largest importer of Korean products. If the U.S. goes ahead with its policy to protect its supply chains, this will deal a blow to Korea's exports to China. China could retaliate.

[Soundbite] Choi Yong-min(Korea International Trade Association) : "China rectified its laws last year. Those who inflict damage on Chinese government or companies must pay compensation."

The Washington-Beijing trade conflict provides both opportunity and crisis for Korean businesses. Diversifying supply chains to both sides seems necessary to find a solution.
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