SEOUL : South Korea's trade minister will meet with counterparts in Washington this week to express concerns that the U.S. Chips Act could make the U.S. a less attractive investment destination, its trade ministry said.During his trip, South Korea's trade minister Ahn Duk-geun plans to meet with senior of
SEOUL : South Korea's trade minister will meet with counterparts in Washington this week to express concerns that the U.S. Chips Act could make the U.S. a less attractive investment destination, its trade ministry said.
The Biden administration last month said it would require companies winning $52.7 billion of available funds from the Chips Act to share excess profits and explain how they plan to provide affordable childcare. While the incentives are crucial for chipmakers's investment decisions, some of the conditions for receiving the subsidies are putting South Korean chipmakers Samsung Electronics Co Ltd and SK Hynix Inc in a difficult position as they decide whether to apply for funding, South Korean government officials said.
Under the Chips Act, companies that accept the incentives are required to share with the U.S. government a portion of their profits that exceed initial projections by an agreed-upon threshold.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Korea announces plan to compensate victims of Japan wartime forced labourSEOUL: South Korea announced a plan on Monday (Mar 6) to compensate victims of Japan's forced wartime labour, hoping to improve poor relations that have impeded trade, and political and military cooperation. Japan and the United States immediately welcomed the announcement, but victims have criti
Read more »
Over 1,000 dead dogs found in horrific animal abuse case in South KoreaThe police are investigating a man in his 60s on charges of violating animal protection law. Read more at straitstimes.com.
Read more »
South Korea announces plan to compensate victims of Japan wartime forced labourSEOUL — South Korea said on Monday (March 6) that its companies would compensate people forced to work under Japan's 1910-1945 occupation of Korea, in a bid to improve poor relations that have impeded trade and co-operation between the two countries. The proposal was welcomed in Tokyo but faced immediate backlash from some victims and South Korea's main opposition party,...
Read more »
South Korea to halt WTO dispute process while discussing Japan’s export curbsBoth countries will quickly begin discussions to return export curbs to their pre-July 2019 state Read more at straitstimes.com.
Read more »
Work longer, rest longer: South Korea to add flexibility to 52-hour work weekThe revision of the labour laws would allow workers to have more control over their working hours. Read more at straitstimes.com.
Read more »
Victims of crime, socially stigmatised in South Korea, find their voices on YouTubeYouTube has become an outlet for her to communicate with the world and process her emotions. Read more at straitstimes.com.
Read more »