US, Japan, South Korea Commit to Strengthening Tech Collaborations

US, Japan, and South Korea Pledge Enhanced Collaboration on Supply Chains and Key Technologies

The United States, Japan, and South Korea have committed to closer cooperation in strengthening supply chains and the development of crucial technologies, which include semiconductors and critical minerals.

Addressing Global Supply Vulnerabilities

In a bid to fortify their economies, the three nations will jointly identify vulnerabilities in global supply chains and address weaknesses in vital sectors. Focus areas include semiconductors, clean energy, critical minerals, cybersecurity, and artificial intelligence. The collaboration aims to leverage a trilateral mechanism to promote the development of crucial technologies and enhance economic security and resilience.

Rare Earth Elements and China’s Dominance

One area of focus is the development of technologies related to rare earth elements, where China currently holds a significant lead. The countries expressed concerns over non-market measures affecting this sector.

Coordination with the European Union

European Union competition commissioner Margrethe Vestager participated online with representatives from the US, Japan, and South Korea prior to their trilateral meeting. This discussion centered on strengthening supply chains for key technologies.

China's Semiconductor Expansion

Japanese Minister of Economy, Trade, and Industry Ken Saito, during a press conference in Washington, emphasized the coalition's vigilance over China's investments in its semiconductor industry. Particularly, Saito pointed out China's rapid growth in legacy semiconductor production, which is crucial for industries such as automotive.

"China’s excess production in legacy chip manufacturing is a significant point of interest among the allied countries," Saito remarked, highlighting the potential risks posed by China's growing capacity in this sector.