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Senior officials from S. Korea, US discuss cooperation in chip industry

April 25, 2024 - 09:58 By Yonhap
A general view of the Samsung Austin Semiconductor plant in Taylor, Texas (Getty Images)

Senior trade officials from South Korea and the United States have discussed ways to broaden cooperation in the semiconductor sector, officials said Thursday.

Deputy Minister for Trade Yang Byeong-nae met with his US counterpart, Ramin Toloui, in Seoul earlier in the day during which Yang asked Toloui to offer sufficient support for South Korean firms seeking to invest in the US

Last week, the US government revealed a plan to grant Samsung Electronics Co. up to $6.4 billion to support its chipmaking investment in central Texas. The funding, provided under the CHIPS and Science Act, supports Samsung's projected investment of over $40 billion.

In response, Toloui said Washington will carefully review South Korea's requests, highlighting that bilateral cooperation has not only strengthened between the governments but also within the private sector, according to Seoul's industry ministry. (Yonhap)