The Korea Chamber of Commerce and Industry (KCCI), as cited by South Korean news agency Yonhap, showed that South Korea's exports of semiconductors increased by 12.4 times over the course of the last 20 years.

According to the study, semiconductors accounted for only 3.2% of South Korean exports to China in 2000, but have now risen to 39.7%. In the year 2,000, the total exports to China from South Korea totaled $18.5 billion, making up 10.7% of the total exports in that year.

The report discovered that the whole sector-specific division of South Korean exports to China has been altered dramatically in the last 20 years to the extent that, in 2021, the total exports figure rose to $162.9 billion, or 25.3% of total exports; meaning an 8.8 times increase.

Timber accounted for 42.3% of South Korean exports to China in 2000, followed by leather and shoes at 38.8%, petrochemicals at 33.4%, and electronic components at 27.2%. 

In addition to semiconductors, the biggest exports in 2022 were precision equipment (42.5%), fine chemistry (40.9%), glass (39.3%), and petrochemicals (38.9%).

The study, conducted by the KCCI to commemorate 30 years of diplomatic relations between South Korea and China, concluded that the South Korean government should address the risks of its reliance on Chinese exports, such as the Chinese economy's potential slowdown and Beijing's own technological advancement.

The government should come up with plans to "prevent China from weaponizing South Korea's dependence on China for exports through continued multi-sourcing policies," the KCCI was quoted as saying by the news agency.

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