US seeks share of Korean chipmakers' 'excess profits'
3 hours ago
- #profit-sharing
- #semiconductors
- #US-Korea trade
- The U.S. seeks a share in profits from Korean semiconductor companies, citing high demand for their chips.
- U.S. Deputy Trade Representative argued American companies contributed to Korean chipmakers' earnings by purchasing large volumes.
- Korean semiconductor exports hit record highs in the first half of the year, with shipments to the U.S. surging significantly.
- Publicly, the U.S. has focused on urging Korean firms to expand manufacturing in America rather than profit-sharing.
- Debates in Korea center on redistributing 'excess' profits to subcontractors, suppliers, or the public due to taxpayer support.