South Korean semiconductor giants, Samsung Electronics Co. Ltd. and SK Hynix Inc., have received approval to indefinitely supply chip equipment to their factories in China without requiring further approval from Washington, Yonhap reported on Monday citing the country's presidential office.
"This decision by the US government means that the biggest trade issue for our semiconductor companies has been resolved," South Korea's senior economic advisor, Choi Sang-mok, said, adding that the measures are expected to go into effect "immediately."
Previously, Washington pledged to provide the needed support to South Korean companies and their business in China before the expiration of the one-year waiver.
