The export curbs require Japanese companies to apply for licenses for each of the three chemical materials they sell to South Korea. The process can take up to 90 days. Those restrictions are already having an impact on the global semiconductor industry.
South Korea's Samsung (SSNLF) and SK Hynix make nearly two thirds of the world's memory chips, which are used in everything from smartphones to connected cars. Smartphone makers including Apple (AAPL) and Huawei rely on memory chips from the South Korean companies.