Xi Jinping’s tour of an LG Display factory in the southern Chinese city of Guangzhou, his first to a Korean-owned company, was widely interpreted as an attempt to signal that China remains a friendly partner for Korean technology companies.

But the visit, in April, also carried a hint of menace and highlighted South Korea’s tricky position between China and the US, its two biggest trading partners and opposing parties in an increasingly tense technology war.

From semiconductors and electric vehicle batteries to biotech and telecoms, Korean companies are crucial players in sectors critical to national security and industrial strategy in both Washington and Beijing.