Chey Tae-won, chairman of SK Group, South Korea's second largest consortium, emphasized that "giving up the Chinese market is not an option" due to the huge volume of trade between China and South Korea.

(Bloomberg file photo)

[Financial Channel/Comprehensive Report] South Korea has been swinging between the United States and China for a long time. Now, as the United States is increasingly fighting against China, the outside world is watching how South Korea chooses sides.

South Korean companies that rely heavily on China's semiconductor market began to express their views. Chey Tae-won, chairman of SK Group, the second largest consortium in South Korea, emphasized that a plan to deal with the Taiwan Strait crisis has been formulated, but the volume of trade between China and South Korea is huge, "giving up. The Chinese market is not an option."

According to comprehensive Korean media reports, SK Group Chairman Cui Taiyuan said in a speech in Washington that as the competition between the United States and China intensifies, relevant plans have been drawn up internally to prepare, including countermeasures for a possible military conflict in the Taiwan Strait.

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He emphasized that the priority now is to prepare for business survival rather than seeking to maximize profits or efficiency, and called on the South Korean government to provide more support to help South Korean companies adapt to the rapidly changing geopolitical environment.

As nearly 60 percent of South Korea's chips are exported to China, when asked about the impact of the U.S. ban on exporting semiconductor equipment to China, Choi admitted that SK Hynix, the group's chip manufacturing unit, may be forced to relocate if it struggles to upgrade its production lines.

But he made it clear that "giving up the Chinese market is not an option" given the huge trade volume between China and South Korea.

Cui Taiyuan reiterated that it is impossible to give up the Chinese market, which accounts for a large proportion of exports. "We should formulate countermeasures so that South Korea can cope with the trend of (US-China) decoupling and survive."

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