Reports have emerged that the U.S. government is demanding a share of the 'excess profits' from South Korean semiconductor companies, sparking controversy online. Concerns are growing that discussions on profit sharing in South Korea may be influencing international perceptions, leading to criticism across the political spectrum.
On July 17, The Korea Times reported that the U.S. government conveyed its position that it deserves a portion of the substantial profits generated by South Korean semiconductor firms due to their contributions to the AI semiconductor boom.
According to industry sources, during a meeting last month, Rick Switzer, Deputy U.S. Trade Representative, told Ye Han-goo, head of the Trade Negotiation Bureau at the Ministry of Trade, Industry and Energy, that the U.S. is entitled to a share of the significant profits made by SK Hynix and Samsung Electronics.
Sources explained that the argument is based on the premise that U.S. companies have significantly contributed to the performance of South Korean firms by purchasing semiconductors in large quantities. They suggested that if South Korean partners receive a share of excess profits, U.S. companies could claim the same.
A senior government official confirmed to The Korea Times that the U.S. made such remarks but did not disclose specific details.
Following this news, reactions flooded online communities.
In progressive circles among those in their 20s and 30s, comments included, "This shows that the idea of profit sharing is fundamentally flawed," and "We inadvertently provided the U.S. with a reason to demand a share." Others criticized the situation, saying, "This is not just about cutting open the goose that lays golden eggs; it’s akin to eating the goose itself."
Conservative groups in the same age range expressed similar sentiments, stating, "Creating such a precedent has led to these demands," and "Isn’t the excess profit controversy giving them a legitimate reason to ask for a share?" They remarked that the U.S. is now trying to get a piece of the pie, saying, "The U.S. is also trying to get a bite of the profits." They questioned whether the government’s discussions on excess profits have contributed to this outcome.
Meanwhile, The Korea Times reported that it sought confirmation from the U.S. Trade Representative (USTR), the Department of Commerce, and the Department of the Treasury regarding these statements but did not receive a response. The Ministry of Trade, Industry and Energy also stated that it is unaware of the related comments and currently has no information to confirm or discuss.
This report comes amid ongoing debates in South Korea about sharing excess profits from semiconductor companies with partners or returning them to society. Recently, discussions have emerged among the government and some labor groups about sharing excess profits from Samsung Electronics and SK Hynix with their partners or contributing them to society.
* This article has been translated by AI.
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