Go to Contents Go to Navigation

Seoul to closely monitor Washington's info-sharing request on chipmakers

All News 18:05 October 05, 2021

By Kang Yoon-seung

SEOUL, Oct. 5 (Yonhap) -- South Korea's industry minister said Tuesday he will closely monitor the latest request made by Washington on local chipmakers to share information on their supply chains, calling such requests "unprecedented."

"We plan to closely negotiate with the U.S. government to avoid any disadvantages to South Korean companies," Industry Minister Moon Sung-wook said during a parliamentary audit.

Last week, the U.S. Department of Commerce asked global chipmakers, including Samsung Electronics Co., to respond to the so-called request for information "in the next 45 days and help improve trust and transparency within the supply chain."

Industry Minister Moon Sung-wook speaks during a parliamentary audit held in Seoul on Oct. 5, 2021. (Pool photo) (Yonhap)

The information covers details on "inventories, demand and delivery dynamic." The commerce department added companies are asked to share the information "voluntarily."

During the audit, lawmakers raised concerns the latest demand from the U.S. commerce department may hurt the economic sovereignty of South Korea.

"We believe the measure was an unprecedented move," Moon said, pointing out the ministry will also review rules of the World Trade Organization to cope with the demand.

Chips take up roughly 20 percent of South Korea's outbound shipments, serving as the backbone of the export-reliant economy.

colin@yna.co.kr
(END)

HOME TOP
Send Feedback
How can we improve?
Thanks for your feedback!