The tech industry is definitely not out of the woods yet in relation to the global semiconductor shortage, which is expected to continue beyond the end of 2021 and not ease up until it returns to normal levels in the second calendar quarter of 2022.
It's a very global problem with the U.S. Commerce Secretary Gina Raimondo reportedly set to hold a meeting on May 20th with global industry leaders on a semiconductor shortage that has cut production - including Samsung Electronics.
To discuss further, we have joining us live from Washington, Jeff Moon, President of China Moon Strategies. Jeff has also served as the the Assistant U.S. Trade Representative for China.
Jeff Moon, thank you for joining us.
South Korea unveiled 450 billion dollar plans to build the world's biggest chipmaking base over the next decade joining China and the U.S. in a global race to dominate the key technology.
Many experts point to U.S.-China battle for semiconductor hegemony as one big factor that sparked global chip crisis. More specifically, they argue U.S. sanctions that limit China's access to key semiconductor parts disrupted the global chip supply chain causing the crisis. What are your thoughts on this?
SK Group Chairman Chey Tae-won, Samsung Electronics Vice Chairman Kim Ki-nam and LG Energy Solution CEO Kim Jong-hyun are among the delegates who will accompany President Moon on his official working visit to the U.S. for the S. Korea-U.S. summit. While the U.S. is expected to up the pressure on S. Korean firms to invest in U.S. semiconductor as well as EV battery sectors, what's expected from the talks?
Over 75-percent of global semiconductors are currently made in Asian countries like S. Korea, Taiwan, Japan and China but movements are growing among the western powers to shore up chip manufacturing.. while U.S.-China rivalry is already reshaping the global chip supply chain. What major changes are expected ahead in the global chip market?
Jeff Moon, President of China Moon Strategies for us tonight from Washington D.C. Thank you.