The semiconductor industry is often referred to as the "brain of manufacturing," making it a critical industry for a country. As an important weapon of national competitiveness, the semiconductor industry has a significant impact on a country's position in global economic integration and digital competition. The semiconductor industry is a strategic, basic and leading industry that supports the development of modern economic society, and is a key driver of new technological revolutions and industrial transformation. Unlike other industries, the semiconductor industry has a very high technical barrier, and with the development of digital technology and the increasing share of the digital economy in the national economy, the application range of semiconductor products will become wider and wider. South Korea focuses on memory semiconductor technology. Japan has an advantage in semiconductor sub-sectors (materials, components, equipment). Europe is strong in power semiconductors and microcontrollers, while mainland China and Taiwan are leading in packaging testing and wafer fabrication. As a huge consumer of semiconductors, China is the world's largest consumer market for semiconductor products and an important support for the development of the global semiconductor industry. Therefore, the question of how Korea and China should respond to the competition in semiconductor technology against the backdrop of several factors such as the US-China conflict and the Russian-Ukrainian war is very important. The main purpose of this research is to analyze the competitiveness of the semiconductor industries of Korea and China in the rapidly changing global market and to discuss ways of mutual cooperation. The semiconductor industries of Korea and China were analyzed using PEST analysis and SWOT analysis. The results showed that Korea's core technology for memory semiconductors is ahead of other countries, but system semiconductors are still lacking. In addition, Korea is dependent on the United States for technology and Japan for equipment and raw materials. China, on the other hand, has advantages in domestic markets, policies, and capital. However, there is still a relative gap in science and technology, especially in the semiconductor industry. Therefore, South Korea needs China's market and China needs South Korea's semiconductor technology. The semiconductor supply chains of Korea and China are indivisible, and in the complex international situation, the semiconductor industries of Korea and China must cooperate and win-win to reduce the risks of industrial development. Korea-China cooperation is conducive to realizing the potential of the semiconductor industry in both countries, jointly building a semiconductor industry chain, and realizing a win-win situation.