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Nat’l Security Adviser to Discuss US CHIPS Act with US Officials

Written: 2023-03-06 09:25:30Updated: 2023-03-06 10:25:08

Nat’l Security Adviser to Discuss US CHIPS Act with US Officials

Photo : YONHAP News

Seoul’s national security adviser expects to hold intensive talks with U.S. officials to address concerns that Washington’s new subsidy program for the semiconductor industry imposes excessive demands on participating foreign firms.

Talking with reporters at Dulles International Airport near Washington D.C. on Sunday, Kim Sung-han said that since South Korea and the U.S. can remain allies while having different priorities, he will seek frank discussions on the matter.

Acknowledging that Seoul’s understanding of the U.S. CHIPS Act may differ from that within the U.S., the adviser said he will carefully review the compatibility of the law with the interests of the South Korean chip industry and economy. 

Under the 52 billion-U.S.-dollar semiconductor manufacturing and research program, foreign firms that secure funds will reportedly be required to share profits exceeding initial projections with Washington while providing some access to related facilities.

Kim, who embarked on a five-day trip to the U.S. on Sunday to discuss several pending issues between the two countries, reiterated that his visit is aimed at finalizing discussions regarding a possible bilateral summit between President Yoon Suk Yeol and U.S. President Joe Biden.

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