South Korea's ruling party plans chips law to avert Trump threat
Hindustan TimesBy Hyunjoo Jin South Korea's ruling party plans chips law to avert Trump threat SEOUL Nov 11 - South Korea's ruling party proposed a special chips act on Monday to give chipmakers subsidies and an exemption from a national cap on working hours, to tackle potential risks from measures threatened by incoming U.S. President Donald Trump. Last week, South Korean President Yoon Suk Yeol warned of the risks stemming from Trump's threat of steep tariffs on Chinese imports that could prompt Chinese rivals to slash export prices and undercut Korean chip firms overseas. Last month, Samsung apologised for its disappointing profit, since it has lagged rivals TSMC and SK Hynix in tapping booming demand for artificial intelligence chips, as competition from Chinese companies grows. In October, Trump threatened to scrap federal chip subsidies for Taiwan's TSMC, South Korea's Samsung and SK Hynix and others, in favour of import tariffs.