Seoul, Oct 10 (SocialNews.XYZ) Samsung Electronics and chip-maker SK hynix will strive for smooth business operations in China, in spite of the latest US export controls, on the basis of continued consultations with governments concerned, according to officials of the firms.
The Joe Biden administration announced a set of restrictions last week that will cut China off from certain semiconductor chips made with US equipment in an apparent bid to slow Beijing's technological and military advances.
The move was feared to disrupt operations of the South Korean chip giants in China, as they must undergo a case-by-case review by Washington to sell advanced chips to China, reports Yonhap news agency.
"The (South Korean) government has closely discussed the matter with the industry circle, and it has made consultations with the US side based on the discussions," a Samsung official said.
"I hope the two governments will draw constructive conclusions over remaining issues. We will do our best to operate factories in China without a hitch through continued, closed consultations with the governments concerned," the official added.
SK hynix issued a statement and vowed thorough preparations to get US licenses while working closely with the Seoul government.
"We will strive to run factories in China while abiding by international norms so as to minimise the impact (of the export curbs) on the domestic semiconductor industry," the release read.
The industry ministry here said the restrictions would not seriously impact the domestic firms. But it is necessary to minimize uncertainty through consultation with the US.
"We will review and discuss related issues with the U.S. by using a working group under the South Korea-U.S. Supply Chain and Commercial Dialogue (SCCD) platform as a regular discussion channel," the ministry said in a release.
Source: IANS
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