Yoo Seung-min: "It's Time for the Yoon Administration to Engage in Public Diplomacy... Freedom to Exchange Economically with China"

Former lawmaker Yoo Seung-min raised his voice regarding the U.S. request to ban semiconductor exports to China, stating, "We must also secure the freedom to engage in economic exchanges with China," and emphasized that it is time for the Yoon Suk-yeol administration to pursue diplomacy with China.

On the 23rd, Yoo posted on his social media, "The Yoon Suk-yeol administration must now strategize on how to engage with China over the next four years and take on diplomacy with China," expressing this view.

[Image source=Yonhap News]

He pointed out, "The day after the G7 (Group of Seven) issued a joint statement, China announced retaliatory measures banning the purchase of semiconductors from the U.S. company Micron. The problem lies with our companies such as Samsung Electronics and SK Hynix, which produce and sell semiconductors in China," adding, "On April 23, the UK's Financial Times reported that 'If China bans the purchase of Micron semiconductors, the U.S. requested South Korea to prevent Samsung Electronics and SK Hynix from selling semiconductors to China as a substitute for Micron.'"

He raised concerns that exports of semiconductors to China by Korean companies could be blocked. Yoo said, "Whether this report is true or not has not been confirmed for a month, but the Chinese Ministry of Foreign Affairs has opposed the possibility, and the U.S. Department of Commerce has stated it will 'work closely with allies to resolve the issue,' effectively pressuring our companies," and added, "This issue raises questions such as 'Which choice aligns with the national interest of the Republic of Korea?' and 'Memory semiconductors are not system semiconductors required for advanced weapons; can a foreign (U.S.) government interfere with our companies' sales by violating the principle of free trade, and can our government restrict private companies' sales?'"

Yoo emphasized, "Our export-driven economy is currently facing its two greatest challenges: 'China' and 'semiconductors,'" and said, "The U.S. is imposing restrictions on our companies' economic activities with China through the IRA and CHIPS Act, and this issue was not resolved even at the recent South Korea-U.S. summit. It is unlikely to be resolved before the U.S. presidential election next year."

He continued, "Strengthening the South Korea-U.S. alliance is the right choice, but we must also secure the freedom to engage in economic exchanges with China," and noted, "European countries such as Germany and France, Japan, Australia, India, and even the U.S. itself continue various economic exchanges with China," urging that South Korea must also pursue diplomacy with China.

This content was produced with the assistance of AI translation services.