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China and South Korea Reject U.S. ‘Chip War’ Demands

March 25, 2024 (EIRNS)—Chinese Commerce Minister Wang Wentao met SK Hynix CEO Kwak Noh-Jung in Beijing. Kwak told Global Times on March 23 that China has become a most important production base and sales market for SK Hynix, so the South Korean chipmaker “will continue to tap into the Chinese market and strive for greater success in its business operation in China.” This flies in the face of the demands from the U.S. for South Korea to join Washington in a “chip war” aimed at denying China access to the world chip economy, allowing the U.S. to surpass China in IT development.

Global Times reports that SK Hynix earlier this year dismissed rumors that it was considering selling its factory in Dalian, Northeast China’s Liaoning Province, which mainly produces 3D NAND flash memory. SK Hynix has made a massive investment in China. As reported by the New York Times, SK Hynix produces 30% of its NAND chips and almost half of its DRAM chips in China.