The Korea Herald


US policy on restricting China investment to have limited impact on S. Korea: govt.

By Yonhap

Published : Aug. 10, 2023 - 09:14

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(Herald DB) (Herald DB)

South Korea said Thursday the latest executive order limiting US investment in some Chinese technology sectors is expected to have only a limited impact on South Korean companies.

On Wednesday, the White House vowed to restrict investment in "countries of concern" in certain technology sectors that could pose threats to its national security while adding only China, including Hong Kong and Macau, to the list.

The areas include "sensitive technologies and products in the semiconductors and microelectronics, quantum information technologies, and artificial intelligence sectors," it added.

"The ban will be applied to future investments, and it will only cover US citizens and entities," South Korea's Ministry of Trade, Industry and Energy said in a statement.

"Accordingly, it will have only a limited impact on local companies," it added.

The industry ministry said South Korea will closely assess its impact on the economy and submit the government's and local companies' opinions to Washington, "if necessary." (Yonhap)