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The impact of US export controls on Korean semiconductor exports

Author

Listed:
  • Kim, Hanhin
  • Cho, Jaehan

Abstract

This study empirically investigates the impact of recent US export controls on China on South Korea's semiconductor exports. We analyze South Korean export data to shed light on the repercussions of US export restrictions on a third country. Our findings reveal a significant decline in Korean semiconductor exports following the October 2022 imposition of US controls. This decline was most pronounced in the memory, discrete devices, and discrete device components subsectors of the semiconductor industry. In addition, we observed a decrease in unit prices, especially for memory semiconductors, pointing to downward pressure on South Korea's high-value-added semiconductor exports. These results provide some evidence of substantial negative impacts of US export controls on South Korea's semiconductor industry, and particularly with regard to its high-tech products.

Suggested Citation

  • Kim, Hanhin & Cho, Jaehan, 2024. "The impact of US export controls on Korean semiconductor exports," KDI Journal of Economic Policy, Korea Development Institute (KDI), vol. 46(3), pages 1-23.
    • Handle: RePEc:zbw:kdijep:303054
    DOI: 10.23895/KDIJEP.2024.46.3.1
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    References listed on IDEAS

    as
    1. Hayakawa, Kazunobu & Ito, Keiko & Fukao, Kyoji & Deseatnicov, Ivan, 2023. "The impact of the strengthening of export controls on Japanese exports of dual-use goods," International Economics, Elsevier, vol. 174(C), pages 160-179.
    2. Moon, Min Hye & Jang, Yong Joon, 2023. "The Effects of Strategic Goods Control on Productivity: The Case of Korea," East Asian Economic Review, Korea Institute for International Economic Policy, vol. 27(2), pages 89-114, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    US Export Controls; South Korean Exports; Semiconductors; Export Control Classification Numbers(ECCNs); Gravity Equation;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions

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