The International Trade Commission (ITC) confirmed yesterday that the US DRAM industry was injured by billions of dollars in illegal subsidies provided to Hynix Semiconductor by the government of South Korea.
‘The Department of Commerce’s and International Trade Commission’s reviews of subsidies to Hynix were exhaustive and their respective determinations were based on substantial evidence. These actions validate that Hynix received billions of dollars in illegal subsidies, reaffirms that free trade must also be fair trade, and demonstrates our government’s commitment to enforce trade laws,’ said Steve Appleton, President of Micron Technology.
Micron Technology filed a countervailing duty (CVD) case on November 1, 2002 with the US Department of Commerce and the ITC against DRAM semiconductor products manufactured in South Korea.
As a result of the decision, a 44.29% duty will be applied against all Hynix chip imports into the US. Payment of the duty must be posted in the form of a cash deposit with the US Treasury Department.
Last month, the Department of Commerce set the duty rate following months of research and investigation.