4 OUT OF 5 CHIP SPECIALISTS CLAIM THAT KOREA IS IN ITS "BIGGEST CRISIS" IN A DECADE

 

According to a survey of semiconductor industry professionals conducted on Monday, South Korea's chip manufacturing sector is experiencing its worst crisis in ten years.

In a survey conducted by the advocacy group Korea Chamber of Commerce and Industry, 24 out of 30 chip specialists stated that Korea is either facing a threat as serious as or more serious than Chinese chipmakers' entry into the memory chip market in 2016 or the US-China trade war in 2019.

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13 of the respondents claimed that the current situation in Korea is worse than those two low points, while 11 said that the threat facing Korea at the time is equally dire.

The announcement of Yangtze Memory Technologies as a supplier of third-dimensional NAND flash memory chips for Apple's newest flagship smartphone, the iPhone 14, starting later in September, comes as a warning. This move could put Korean memory chip goliaths Samsung Electronics and SK Hynix in jeopardy.

The growing competition posed by Chinese entities is fueling worries of a domestic chip industry downturn that could last more than two years when combined with industry-wide risks like memory chip oversupply, price cuts, and the resulting decline in monthly chip exports for the first time in 26 months in August. According to the KCCI survey, approximately 60% of experts believe that the chip industry crisis would continue for at least the next two years.

According to Burm Jin-wook, professor of electronic engineering at Sogang University, "uncertainties in the Korean chip sector in the past have been mainly short-lived, as the problems arose from transient external hurdles or regular chip down cycles."

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