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Japanese curbs will negatively affect semiconductor value chain and billions of consumers: official Updated: 2019-07-18 10:46:01 KST

South Korea says Japan's recent trade sanctions will have dire consequences on firms and consumers around the world, and implored Japan to call off its measures.
A government official told foreign correspondents in Seoul Wednesday, that the export restrictions will disrupt chip production lines, and severely affect companies like Apple, Amazon, Dell and Sony.
They said its effects will be felt by billions of consumers around the globe.
The official expressed disappointment regarding the measures that targeted the semiconductor industry.
This, especially as semiconductors take up around 25 percent of Korean exports, while Korean chipmakers account for 70 percent of the world's DRAM production as well as a significant portion of NAND flash and system memory.
He said Korea will have to take great efforts to produce the sanctioned chemical products and machinery domestically.
And because that will unhinge the global value chain that once worked well, the official says users who rely on Korean semiconductors will also suffer immensely.

The official called on Japan to honor its promise made at the G20 Summit in Osaka last month, that it will continue to uphold the principles of free trade.
Warning that such actions violate WTO rules, he urged Tokyo to withdraw them immediately.

He also reiterated that the South Korean government hopes to resolve the issue constructively, through dialogue and creative solutions.
It believes them to be the best way to maintain solidarity between Korea, the U.S., and Japan, especially amid the numerous challenges in the region.
Stressing that science and technology are not a tool for war, the official emphasized the need to settle the conflict regarding export control and the Supreme Court ruling for future-oriented relations.

Park Hee-jun, Arirang News.
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