Wang Ye said financial news: the so-called "city gate fire and pond fish", this sentence may be able to describe the current South Korea.
With the continuous increase (production) of Russia in Europe and Russia, some media have analyzed and commented that this move may lead to indirect injuries to South Korean companies including Samsung and SK Hynix due to the inability to ship to Russia.
On Monday (28th), according to The Korea Herald, the US sanctions against Russia are similar to the "Huawei model", that is, prohibiting companies from exporting telecommunications equipment, chips and other products to Russia, and for Samsung and SK Hynix, which sold about $75 million worth of chips to Russia last year, if they fail to find an alternative market immediately, they will not be able to avoid losses.
According to the report, at present, almost all the chips on the market are designed by the United States, including the chips of Samsung and SK Hynix, so when the United States announces the implementation of economic regulations for Russia, all high-tech products related to the United States cannot be sold to Russia smoothly.
In this regard, Park Jae-geun, president of the Korean Semiconductor and Display Technology Society, is worried that in this context, the demand for all electronic products (mobile phones, computers, data centers, etc.) will slow down, which may lead to a slowdown in consumer demand, which in turn will affect the entire chip market.
It is worth mentioning that Wang Ye said that Finance and Economics also noted that the actions of Europe and the United States on Russia have an impact on the Korean economy, not only affecting South Korean chip companies such as Samsung and SK Hynix, but also another pillar industry in South Korea - the automobile industry will also be affected, especially automobiles and automotive equipment are important industries exported from South Korea to Russia, accounting for 25.5% and 15.1% of trade respectively.
In this regard, a director of South Korea's auto parts industry said that in 2021, South Korea will export about $1.5 billion of auto parts to Russia, for some companies, Russia is the largest market after China and the United States, if these products are not transferred to other places, the revenue of these companies will be significantly impacted.
Therefore, if a suitable alternative market is not found, then the Korean chip + enterprise industry may lose $1.575 billion (equivalent to 9.9 billion yuan, close to 10 billion yuan) in the large market.
There is no doubt that South Korea is a bit "panicked" at this time!
That's why, on Monday (28th), South Korea's top trade official said that South Korea would seek close consultations with the United States to obtain the recently expanded U.S. exemptions to The Russian system to minimize the impact of restrictions on local South Korean businesses and the economy.
What do you think about that?
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