South Korea Secures Favorable Tariff Terms for Chipmakers
South Korea's trade envoy Yeo Han-koo announced that major chipmakers, Samsung Electronics and SK Hynix, will not face 100% U.S. tariffs. Under the trade deal with Washington, South Korea will enjoy the most favorable tariff rates on chips, enhancing its competitive trade position.
- Country:
- South Korea
South Korea's top trade official, Yeo Han-koo, revealed on Thursday that the nation's leading chip manufacturers, Samsung Electronics and SK Hynix, would be exempt from facing 100% U.S. tariffs.
Speaking on radio, Yeo emphasized that South Korea would benefit from the most advantageous U.S. tariff rates for chips, as negotiated in the existing trade agreement between Washington and Seoul.
This development is expected to provide a significant boost to South Korea's semiconductor industry, which has been vying for a competitive edge in the global market.
(With inputs from agencies.)
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