With the launch of a new Korean government in May 2022 that places importance on future cooperation with Japan, cooperation between Korea and Japan in the so-called economic security field, including semiconductors, is expected to emerge as a new cooperation agenda. However, the agreement in the “Economic 2+2” meeting between the U.S. and Japan suggests that it will put a significant pressure on the Korean government as competition intensifies in the semiconductor sector between Korea and Japan in the future.