The South Korean Ministry of Economy and Finance reported that the two South Korean firms - Samsung Electronics and SK Hynix - will disclose some semiconductor-related information to the U.S. government
FREMONT, CA: The South Korean Ministry of Economy and Finance reported that the two South Korean firms - Samsung Electronics and SK Hynix - will disclose some semiconductor-related information to the U.S. government. A voluntary submission is being prepared by South Korea-based chipmakers to hand over their internal data to the U.S, as per the statement released on Sunday by the finance ministry. However, Samsung and SK Hynix, will not leak any sensitive information related to trading secrets when they submit the data to Washington, says Reuters. Local media reports also suggest that the world’s two largest memory chipmakers would partly comply with Washington.
On 23 September, Global semiconductor manufacturers and automakers were voluntarily asked to fill out a questionnaire about the supply chain pertaining to their chip inventory, sales, orders, customers’ information, and more by the U.S. Department of Commerce with a deadline to submit it by Nov. 8. Moreover, in an interview with Reuters in September, U.S Commerce Secretary Gina Raimondo said that they have other tools in the toolbox to obtain the data in case the companies did not respond to the voluntary request. Raimondo said that this voluntary request for information aimed to identify bottlenecks in the global supply chain and predict challenges amid a global semiconductor shortage with complete transparency. This global chip shortage has affected several sectors, including cars, computers, phones, and appliances and to discuss solutions for this worldwide chip shortage, a meeting was held in April by the global tech and automobile executive.
According to anonymous industry sources, the semiconductor companies have no choice but to abide by the request. However, the Korean chipmakers have discussed this data submission issue with the South Korean government, states the Ministry of Economy and Finance. On this matter, the South Korean finance ministry said that after the deadline on 8 November, the government will extend the semiconductor supply chain partnership with the U.S. and continue close communications with the U.S. counterpart. The world’s largest chipmaker, Taiwan Semiconductor Manufacturing (TSMC), has already submitted its answers to the U.S. without including customers’ detailed information, while Samsung and SK Hynix have not responded to requests for comments.