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🇵🇾 Paraguay /Economy & Trade

Seoul pledges support for chipmakers facing possible ‘selective’ U.S. tariffs

From ABC Color · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire From a news agency Ongoing story
  • South Korea said it would support its semiconductor companies if the United States imposes new tariffs on chips.
  • U.S. Commerce Secretary Howard Lutnick said companies producing in the United States could avoid the tariffs, while overseas manufacturers could face duties to access the U.S. market.
  • Samsung Electronics and SK hynix, South Korea’s leading chipmakers, already operate or are developing U.S. production and packaging facilities.

Seoul says it will stand behind South Korean semiconductor companies as Washington considers imposing selective tariffs on chips, the country’s main export.

The South Korean presidential office said the government would closely monitor developments and maintain consultations with the United States to prevent adverse effects on domestic companies. It added that Washington had not yet provided details of the potential semiconductor tariffs.

U.S. Commerce Secretary Howard Lutnick said in a CNBC interview that the Donald Trump administration was working on a selective tariff policy. Under the approach, companies that manufacture in the United States would not pay the duties, while those producing abroad would face tariffs to enter the U.S. market.

South Korea is home to Samsung Electronics and SK hynix, the world’s two leading memory-chip manufacturers and the country’s two largest companies by market value. Samsung already has semiconductor production facilities in Texas. SK hynix is developing an investment in Indiana focused mainly on advanced memory packaging.

The government will closely monitor developments and maintain close consultations with the United States to avoid any adverse impact on our companies.

· South Korean presidential officeThe office described Seoul’s response to possible U.S. semiconductor tariffs.
About this summary

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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