KCCI chief warns of chip supply crunch as memory demand set to nearly double

Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won said global memory chip demand could nearly double next year, while overall semiconductor demand is expected to increase by 50 to 60 percent, underscoring the need to expand manufacturing capacity.

"I do not know if I would go so far as to call it complete chaos, but we are under immense lobbying and pressure," Chey said Friday on the sidelines of the KCCI Jeju Forum.

“Despite the surge in demand, there will be almost no increase in supply next year.

As a result, the gap between supply and demand will widen even further next year than it has this year." Chey, who also serves as chairman of SK Group, said surging demand and limited supply have become a government concern as well, describing the situation as a "national security issue." He said governments are increasingly stepping in to help secure memory chips for domestic companies to sustain manufacturing capacity and meet soaring global demand.

“This could become a serious issue.

Although it is currently confined to companies, there is a high probability that gove ...