Forward-looking: While the US and China are still clashing over silicon supremacy and economic sanctions against the Middle Kingdom's technology industry, South Korea has won some important concessions through Washington diplomacy. The Asian giant will continue to do business and make chips in China, at least for now.
What just happened? Another memory chip giant is suffering the effects of "unprecedented deterioration" in consumer demand and US sanctions against China. SK Hynix said it would slash investment after third-quarter profits fell 60%, warning that the Biden Administration's restrictions could force it to close or sell a major plant in China.