S Korea companies to offer business information to US government

Ahead of deadline for submitting data regarding the semiconductor supply chain to the U.S. government, South Korean companies are reviewing their business data to be disclosed.

According to the industry on the 3rd, Korean semiconductor giants such as Samsung Electronics and SK Hynix will submit the business information, excluding confidential data and sensitive internal information before the 8th.

Samsung Electronics Vice Chairman Kim Ki-nam also said on the 26th, “Considering various matters, we are calmly preparing answers to the request.”

Amid the global semiconductor shortage, the U.S. government held a video conference with global semiconductor companies on September 24 and requested to submit data on semiconductor supply chains such as inventory status, orders, and sales.

This questionnaire provided by the U.S. government reportedly has 26 questions from routine information to sensitive questions regarding the company circumstances.

Regarding the request, Korean semiconductor companies have concerns about confidential business information leakage.

“It is analyzed that the U.S. government’s request for data is not limited to Korean companies,” said an industry source, “Considering this, companies will submit the requested data at a level that they can answer.”

In the meantime, the Korean government has continued to communicate with the U.S. government to ease the burden on companies to submit business information but cooperate with the U.S. government at the same time.

As soon as companies complete the submission of data, the Korean government plans to discuss the bilateral cooperation with the U.S. Department of Commerce regarding semiconductor supply chains.

In addition, Ministry of Trade, industry and Energy Moon Sung-wook will visit the U.S. this month and have a talk with the U.S. Secretary of Commerce Gina Raimondo. ANI