President Lee: "Not Concerned About 100% Semiconductor Tariff... U.S. Semiconductor Prices Will Rise"

President Lee's New Year Press Conference on the 21st
Lee: "If Tariffs Rise, U.S. Semiconductor Prices Will Increase"

President Lee Jae-myung is answering reporters' questions at the New Year's press conference held at the Blue House State Guest House on the 21st. Photo by Yonhap News

President Lee Jae-myung stated on the 21st that he is "not seriously concerned" about the Trump administration's pressure to impose a "100% tariff on semiconductors."

President Lee made this remark during a press conference held at the Blue House State Guest House on the theme of "Achieving a Grand Transformation Together, Enjoying a Great Leap Forward for All."

He explained, "This is a common topic in trade, and there are so many unexpected factors that emerge suddenly in unstable situations that if we react emotionally to every development, we cannot maintain our composure. In such times, it is important to stay centered and respond according to principles."

President Lee further pointed out, "In the semiconductor sector, South Korea and Taiwan together account for 80 to 90 percent of the global market share. If the United States imposes a 100% tariff, I believe this could result in semiconductor prices in the United States rising by 100 percent."

He added, "Of course, we may have to bear a small part of the burden, but it is highly likely that almost all of it will be passed on to U.S. consumer prices."

President Lee also stated, "We have already reached an agreement with the United States that we will not be placed at a disadvantage compared to Taiwan with regard to semiconductor tariffs. We made this agreement in advance to prepare for such situations."

Additionally, President Lee dismissed U.S. pressure to build semiconductor factories, saying, "These are just various things that can come up during negotiations." He said, "Of course, the United States wants to build many semiconductor factories domestically. Though we are facing rough waves, the risk is not so great as to damage or break the ship, so we should be able to get through this well."

In conclusion, President Lee added, "There is no need to worry too much. Our competent negotiation teams at the Ministry of Trade, Industry and Energy will handle this well."