S Korea seeks favorable chip terms with US: officialReuters, SEOULSouth Korea would seek favorable terms for US tariffs on imports of memory chips, a presidential office spokesperson told a news conference yesterday. South Korean Minister of Trade, Industry and Resources Kim Jung-kwan on Saturday said US tariffs on some advanced computing chips would have a limited impact on South Korean companies. Photo: BloombergSouth Korea’s Samsung Electronics Co and SK Hynix Inc are among the world’s biggest producers of memory chips. Under an accord with South Korea announced in July last year, the US would charge a 15 percent tariff on most goods from the country, while sparing, for now, imports of chips. “If they don’t build in America, the tariff is likely to be 100 percent,” Lutnick told CNBC.
