South Korea to negotiate with the US for favourable chip tariff terms, official says

South Korea's trade minister says US tariffs on some advanced computing chips would have a limited impact on companies

Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken Feb 25, 2022. REUTERS/Florence Lo/Illustration/File Photo

South Korea will seek favourable terms for US tariffs on imports of memory chips, a presidential office spokesperson said at a televised briefing on Sunday.

The country last year released a joint fact sheet on its trade deal with the US that included terms ensuring South Korea will not receive unfavourable treatment from US tariffs on imported chips compared to key competitors, the official said, when asked about the Trump administration's proclamation imposing tariffs on artificial intelligence chips.

On Saturday, South Korea's trade minister said US tariffs on some advanced computing chips would have a limited impact on South Korean companies.

South Korea's Samsung Electronics and SK Hynix are among the world's biggest memory chip producers.