The U.S. government has confirmed that it will supply American-made equipment to Samsung Electronics and SK Hynix’s semiconductor factories in China without separate permission or period restrictions.
The President’s Office said that the biggest trade issue for our semiconductor companies has been resolved, and evaluated that the strong Korea-U.S. alliance under the Yoon Seok-yeol administration became the foundation.
This is reporter Eunji Cho.
[Reporter]
Uncertainty has been greatly reduced in the semiconductor sector, Korea’s largest export industry.
The Office of the President recently announced that the U.S. government has designated Samsung Electronics and SK Hynix’s semiconductor factories in China as ‘verified end users’, or VEUs .
VEU is a type of ‘comprehensive authorization method’ that allows export of designated items only to companies that have been approved in advance.
Since there is no need to obtain a separate permit each time equipment is imported, the application of U.S. export controls is effectively suspended indefinitely.
In other words, Samsung Electronics and SK Hynix will be able to receive additional American-made equipment from Chinese factories without any separate permission procedures or period restrictions.
[Choi Sang-mok / Senior Economic Advisor to the President: This decision by the U.S. government means that the biggest trade issue for our semiconductor companies has been resolved. In addition, uncertainty regarding the operation and investment of Korean semiconductor companies’ factories토토사이트 in China has been greatly alleviated… .]
In October last year, the United States implemented export control measures to prevent the entry of American high-tech equipment into semiconductor factories in China, saying it was a national security strategy. However, an exception was made for
Samsung and SK for one year, and continued negotiations have borne fruit ahead of the expiration of the grace period this month.
The President’s Office commented that this achievement was the result of a joint response between the government and businesses based on the foundation of the ROK-US alliance, which was strengthened under the Yoon Seok-yeol administration.
[Choi Sang-mok / Senior Economic Advisor to the President’s Office: (The leaders of the U.S. and Korea have continuously confirmed their will to cooperate closely with the high-tech industry supply chain and export controls centered on semiconductors.] The President’s Office, which emphasized that ‘diplomacy is the economy,’ was greatly encouraged by this achievement
. It’s an atmosphere.
However, he explained that there will be great uncertainty in the future and that he will closely monitor new trade issues and communicate and cooperate closely with companies.
This is Eunji Jo from YTN .