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South Korea’s supply chain reliance on China leaves it more exposed than the US, Japan

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South Korea’s import reliance is most pressing in four areas: semiconductors, large-capacity batteries, rare earth metals and medical supplies

South Korea has a higher dependency on China for semi-finished goods and material parts than Japan and the United States, and Seoul must take action to mitigate associated risks, a new report said on Wednesday.

Some 29.3 per cent of South Korea’s material parts imports came from China in 2020, whereas the rate for Japan and the US was 28.9 per cent and 12.9 per cent respectively, said the Federation of Korean Industries (FKI), which represents South Korea’s major conglomerates and associated members.

South Korea’s import reliance is most pressing in four industries crucial to the 21st century, namely the production of semiconductors, large-capacity batteries, rare earth metals and medical supplies.

SourceSCMP

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