According to a report in the Korean Times on July 16, a source said that the United States is seeking to share the substantial profits that South Korean semiconductor companies have earned due to the growing demand for artificial intelligence chips worldwide. The source indicated that the reason for this approach by the US is the high demand for South Korean chip products in the US market. American companies purchasing South Korean semiconductor products contribute to the profitability of South Korean companies.
According to reports, during a meeting last month, Rick Switzer, the deputy trade representative of the U.S. Trade Representative Office, told South Korea’s Trade Minister Lee Han-koo that the United States should “receive a share” of the huge profits made by Samsung Electronics and SK Hynix.
According to the source, the US side's claim is based on this logic:
"American companies purchase a large number of Korean semiconductor products, thus contributing to the profit growth of Korean chip companies. If Korean chip companies have the right to receive part of the profits from their cooperative enterprises in Korea, then American cooperative enterprises should also be granted the same treatment."
According to a Korean newspaper report, another senior Korean government official also stated that the US indeed made similar claims, but did not provide detailed information.
As of the time of reporting, neither the U.S. Trade Representative Office nor the U.S. Department of Commerce or Treasury has confirmed this claim.
According to reports, officials from South Korea's trade, industry, and resources departments stated that they ‘have no knowledge’ of this matter and said they cannot comment on semiconductor-related issues at this time.
According to data from the South Korean government, South Korea's semiconductor exports reached $19.243 billion in the first half of this year, a year-on-year increase of 162.5%. Of this amount, exports to the United States amounted to $26.4 billion, a year-on-year increase of 91.3%.
The report indicates that the current focus of the U.S. government is not on profit sharing, but on promoting South Korean chip companies to expand their semiconductor manufacturing investments in the United States. U.S. Commerce Secretary Wilbur Ross previously publicly called for Samsung Electronics and SK Hynix to build memory chip manufacturing plants in the U.S.
