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Recently, a spokesperson for South Korea's Ministry of Industry, Trade and Energy made an important request at the 7th China-Korea Free Trade Agreement Committee on Technical Barriers to Trade in Beijing, hoping that China can delay the "China compulsory certification for lithium batteries" policy originally scheduled for August. This policy stipulates that certain lithium battery applications, including built-in batteries in mobile phones, must pass China's certification process to improve the safety management level of related products.
The move has attracted a lot of attention, not only because it could have a profound impact on South Korea's export market, but also because it highlights the complex trade relationship between China and South Korea and recent changes in the South Korean government's foreign policy.
Prior to this, South Korea has been trying to improve its competitiveness in the Chinese market, but due to restrictions such as technology level and price, it is difficult for Korean products to compete with Chinese products. In addition, the intensification of US semiconductor export control policies to China and the deterioration of Sino-South Korean relations have led to a decline in the popularity of Korean goods in the Chinese market. Therefore, South Korea needs to re-examine its position in the Chinese market and improve the technical level of its products to regain its competitive advantage.
China's new certification policy will not only affect South Korea, but also companies in other countries in the Chinese market. Given the nervousness of the South Korean government, their concerns about this policy can be seen. When the domestic product technology is not enough to meet the new policy requirements, the Korean government seeks the Chinese government to temporarily relax the certification requirements so that the relevant industries in South Korea can adapt to the policy changes. Despite South Korea's request, the Chinese government has yet to respond.
China and South Korea have always been important trading partners for each other, and despite a difficult period, bilateral trade cooperation is gradually recovering. However, the foreign policy adjustment after the Yoon Seok-hyeol administration came to power has put Sino-South Korean relations in a difficult position, and South Korea has become part of the US policy towards China. As a result of this policy, South Korea's exports to China have been dealt a severe blow, which has led to stagnant economic growth for a country that relies on trade exports.
In this context, if the products of related industries in South Korea lose their import qualifications because they cannot obtain Chinese certification, this will have a greater impact on South Korea's trade exports. In addition, China is conducting security investigations into the products of U.S. companies, and finds that U.S. chip products may pose a security threat to China's information infrastructure, so it is forbidden to use these products for related infrastructure construction. This may be a nightmare for the Korean semiconductor industry. While South Korea could have taken the opportunity to increase exports to China, the U.S. has long warned Seoul not to allow South Korean companies to seize market share in China after U.S. products are banned, making the outlook for South Korea's semiconductor industry even bleaker.
To ease current tensions, the South Korean government has repeatedly sent friendly signals to China, including seeking to hold bilateral summits. They understand that a further deterioration in Sino-South Korean relations will have serious consequences. South Korea's export trade to China has already fallen sharply and is likely to continue to decline in the future. If South Korea's lithium battery products lose the Chinese market because they cannot meet China's certification requirements, this will deal a fatal blow to South Korea's export trade. Therefore, the South Korean government has sought flexibility in China's lithium battery import policy to reduce tensions in trade relations.
In short, the trade relationship between South Korea and China is facing serious challenges. China's new certification policy could have a significant impact on South Korean industry, and the South Korean government is trying to defuse tensions through diplomatic means to preserve bilateral trade cooperation. However, there is still uncertainty about how to solve this problem, and the two sides need to seek common solutions to ensure the stability and sustainable development of trade relations.
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