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☆ South Korea asks US to resolve chip trade issues
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsSEOUL, Sept 22 (Reuters) - South Korea on Friday said it has asked the United States to resolve uncertainties regarding U.S. export controls in the chip sector and subsidies for chip investment. The waiver allowed the South Korean pair to supply equipment for their chip production facilities in China without additional licensing requirements. Bang has sought "active cooperation" from the U.S. Department of Commerce to resolve issues relating to export controls, South Korea's Ministry of Trade, Industry and Energy said in a statement without elaborating. Samsung Electronics has NAND flash memory production in Xian, China whereas SK Hynix has DRAM chip production in Wuxi and NAND Flash production in Dalian. The companies together control nearly 70% of global DRAM and 50% of NAND flash markets as at June-end, showed data from TrendForce.

Persons: Florence Lo, Commerce Don Graves, Bang, Joyce Lee, Heekyong Yang, Christopher Cushing Organizations: REUTERS, Rights, Industry, U.S, Commerce, Samsung Electronics, SK Hynix, U.S . Department of Commerce, Korea's Ministry of Trade, Energy, TrendForce, Samsung, Thomson Locations: Rights SEOUL, South Korea, United States, Seoul, China, U.S, Korea's, Xian , China, Wuxi, Dalian, Texas

☆ Biden administration adds 14 Chinese firms to unverified list
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +1 min

Being added to the list can potentially start a 60-day clock that could trigger much tougher penalties. ECOM International and HK P&W Industry Co Ltd were among those added to the list. They and the Chinese Embassy in Washington did not immediately respond to requests for comment. “Enforcing our export controls is a crucial part of protecting American national security,” U.S. Deputy Secretary of Commerce Don Graves said in a statement following the announcement. Reporting by Alexandra Alper and Karen Freifeld; Editing by Chizu Nomiyama and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ US restricts 6 Chinese companies tied to airships and balloons
▼ + stars: | 2023-02-11 | by ( Brian Rokus | ) edition.cnn.com time to read: +2 min

CNN —The US Commerce Department is restricting six Chinese companies tied to the Chinese army’s aerospace programs from obtaining US technology without government authorization. US fighter jets shot down the balloon, which American officials have since claimed is part of an extensive surveillance program run by the Chinese military. The six companies are: Beijing Nanjiang Aerospace Technology; China Electronics Technology Group Corporation 48th Research Institute; Dongguan Lingkong Remote Sensing Technology; Eagles Men Aviation Science and Technology Group; Guangzhou Tian-Hai-Xiang Aviation Technology; and Shanxi Eagles Men Aviation Science and Technology Group. The inclusion of the companies on the Commerce Department’s “Entity List,” sends “a clear message to companies, governments, and other stakeholders globally that the entities on the list present a threat to national security,” the statement said. “Today’s action makes clear that entities that seek to harm US national security and sovereignty will be cut off from accessing US technologies.”CNN has reached out to the companies involved and the Chinese government for comment.

The suspected Chinese spy balloon drifts to the ocean after being shot down off the coast in Surfside Beach, South Carolina, U.S. February 4, 2023. The U.S. slapped sanctions against six Chinese aerospace companies that it said supported the Beijing's reconnaissance balloon program, adding them to a list of companies the U.S. considers a significant national security threat. We will not hesitate to use the Entity List and our other regulatory and enforcement tools to protect U.S. national security." Last weekend, a high altitude Chinese surveillance balloon was shot down off the coast of South Carolina. "Today's action makes clear that entities that seek to harm U.S. national security and sovereignty will be cut off from accessing U.S.

☆ South Korea, U.S. in 'intense conversation' over EV tax credits, trade ambassador says
▼ + stars: | 2022-10-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

SAVANNAH, Ga. – South Korean officials are working closely with the U.S. government to adjust restrictive regulations on electric vehicles under the recently passed Inflation Reduction Act, according to the county's trade ambassador Tuesday. "We are in very intense conversation at the moment," Cho said Tuesday following the groundbreaking of a $5.5 billion electric vehicle plant by Hyundai Motor Group near Savannah, Georgia. Under the IRA, plug-in electric vehicles much be produced in North America to qualify for the tax incentives. U.S. Deputy Secretary of Commerce Don Graves during the event on Tuesday called South Korea a strong trade partner, but did not comment on the Inflation Reduction Act. Last week, U.S. Trade Representative Katherine Tai spoke with Korea's Minister for Trade Ahn Dukgeun about the IRA.

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