[기자수첩] ‘Semiconductor oil shock’ is the answer

As the semiconductor shortage exceeded expectations, global industries are clamoring. As the shortage of automotive semiconductors continues, major global automakers are shutting down factories or lowering production. Hyundai Motor Company and Kia are also carefully operating factories, adjusting production plans according to the semiconductor supply and demand situation.

As a result of being overwhelmed, a cold wave in Texas, USA, caused a blackout. Samsung Electronics’ Austin factory located here, as well as semiconductor factories such as Infineon in Germany and NXP in the Netherlands have stopped. Concerns about shutdown due to a shortage of semiconductors are spreading like dominoes not only to automobiles but also to the entire infrastructure such as steel, tires and solar power.

Increasing shortage of semiconductors causes a decline in the industrial competition between countries comparable to the oil crisis.

In the past, oil was an essential raw material for all industries. As such, the’oil shock’ caused economic turmoil in countries around the world.

The situation is the same for semiconductors, which are called’industrial rice’. As it has become an essential part of all industries such as home appliances, IT devices, and automobiles, it has risen to a position comparable to oil in today’s global economy. In particular, IoT (Internet of Things), AI (artificial intelligence), and 5G (5th generation mobile communication) are impossible without semiconductors.

Eventually, in the era of’S-nomics’ (semiconductor) in earnest, the establishment of a crisis response manual became urgent. It is not only private companies that supply and demand semiconductors. The government and business should establish a consultative body and strengthen their responsiveness. The government should carefully examine the grievances of companies that demand and supply semiconductors, and face each other in building a supply chain.

In January, the Korea Automobile Industry Association is struggling to prevent shutdowns by holding an emergency meeting with semiconductor industry officials and organizing an industry emergency response group with the System Semiconductor Forum and Semiconductor Association. Although more than a month has passed since then, the Korean government’s presence in solving problems is virtually’nothing’.

In the past, Korea was not significantly affected during the first oil shock compared to other countries, but during the second oil shock, it suffered severe damage.

The current shortage of semiconductor supply can be easily overcome without major damage, but the current confusion can recur at any time. The answer is’semiconductor oil shock’ and Yubimuhwan (有備無患).