Chip Plants in China Won’t Be Forced to Shut If Firms Receive US Funding, Says South Korea

Chip Plants in China Won’t Be Forced to Shut If Firms Receive US Funding, Says South Korea
Semiconductor chips on a printed circuit board on Feb. 17, 2023. Florence Lo/Illustration/Reuters
Reuters
Updated:
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SEOUL—South Korea’s trade ministry said on Wednesday that the United States’ proposed rules to prevent $52 billion in chip funding from being used by “countries of concern” will not force recipients to shut down their China factories.

The U.S. Commerce Department on Tuesday proposed limits for recipients of U.S. chip manufacturing and research funding, including limits on investing in expansion in countries such as China and Russia.