Economic Strategy of the Republic of Korea: A Case Study of the Semiconductor Industry
Keywords:
Semiconductor, Geopolitica, Geoeconomics, International political economyAbstract
This research studied factors supporting the economic strategy governing the South Korean semiconductor industry towards a global economic and technological status. Mixed methods research was done with data gathered by trade statistics, market proportions, academic articles, journals, and websites and conceptually analyzed. International political economy (IPE) was the main study framework, focusing on geopolitical and geoeconomic perspective for data analysis. Results were that the semiconductor industry is considered a key determinant in South Korean economic strategy. As semiconductors are considered economic indicators, they reflect economic stability during geopolitical conflicts, including the United States (US)-China technology rivalry, featuring trade sanctions export control and production bases moved from China to avoid Chinese economic coercion. In a geo-economic dimension and cooperation with the US, next generation South Korean chip factories leading the manufacturing process and human resources. These findings underline South Korean economic strategy based on national interest to integrate the semiconductor industry in the global supply chain value.
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