South Korea stresses its views should be incorporated in CHIPS and other US funding
Seoul wants close communication with the United States to expand semiconductor cooperation and to ensure that the viewpoints of the South Korean government and corporations are included in the US CHIPS incentives programme.
Those concerns were voiced by the South Korean Minister for Trade Dukgeun Ahn in his meeting in Seoul with the US Trade Representative Katherine Tai, the Ministry of Trade in Seoul has said.
In the 30 March meeting, Ahn ‘proposed that the two countries communicate closely to expand their semiconductor cooperation and to make sure that the recently announced Notice of Funding Opportunity (‘NOFO’) and guardrails in the CHIPS Incentives Program under the CHIPS and Science Act (Creating Helpful Incentives to Produce Semiconductors and Science Act of 2022) thoroughly incorporate the Korean government and firms’ standpoints,’ the ministry said.
According to the ministry, Ahn also asked that ‘Korean industries’ position be fully considered’ in the US Inflation Reduction Act (‘IRA’), which includes various tax credit options for consumers and entities purchasing electric vehicles.
