U.S. Blacklisting SMIC of China Expected to Reverberate around Korean Foundry Industry

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businesskorea.co.kr, Dec. 07, 2020 – 

The United States is expanding its economic sanctions on China. In particular, the nation continues to impose sanctions on the Chinese electronics industry producing semiconductors, smartphones and telecommunication equipment which China is focusing on as future growth engines. Experts say that the mounting U.S. pressure on China has both positive and negative impact on Korean companies and the Korean economy.

The U.S. Department of Defense classified four Chinese companies as those owned or controlled by the Chinese military and added them to its blacklist on Dec. 3, industry sources said on Dec. 6,.

The blacklists contained SMIC, China's largest semiconductor foundry company, CNOOC, an Chinese oil giant, and CIECC, an electronics company. As a result, a total of 35 Chinese companies were blacklisted by the U.S. Department of Defense.

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