ECONOMY

South Korea’s Lee Calls for Closer China Ties as Chip Trade Faces U.S. Curbs

Published: Jan. 12, 2026 6:32 p.m. GMT+8

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South Korean President Lee Jae-myung has called for closer economic ties with Beijing, underscoring China’s continued importance to South Korea’s trade surplus even as semiconductor supply chains are reshaped by U.S. export controls.

Speaking at a China-Korea business forum on Jan. 5 during his four-day visit, Lee said Seoul and Beijing should pursue higher-level cooperation through future technologies such as artificial intelligence, while deepening collaboration in manufacturing and services.

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President Lee Jae-myung urged stronger economic ties with China, emphasizing cooperation in AI, manufacturing, and consumer goods.
In 2024, South Korea had a $52 billion trade surplus, with $35 billion (68%) from China.
China remains the largest market for Korean semiconductors, but the export share dropped to 29% in November due to U.S. controls.

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