BOISE, Idaho--In what could turn into a trade war, Micron Technology Inc. late today announced it has filed a "countervailing duty" complaint with the U.S. Department of Commerce and the International Trade Commission against South Korea's DRAM suppliers.
Micron's announcement did not cite Hynix Semiconductor Inc. and Samsung Electronic Co. Ltd. by name, but the U.S. company said the complaint revolves around "multi-billion-dollar bailout packages and loan subsidies" to South Korean DRAM makers in violation of U.S. Countervailing Duty laws and South Korea's commitments under World Trade Organization agreements.
These subsidies have included loan write-offs, debt-for-equity swaps, government-induced debt financings and re-financings on noncommercial terms, special export financing and special tax treatment, according to Micron of Boise.
According to Micron's complaint, subsidies benefiting South Korean DRAM makers have caused economic injury to Micron and other DRAM producers. The filing seeks imposition of a countervailing duty against Korean DRAM imports. The case will proceed simultaneously with the Department of Commerce and with the International Trade Commission.
"The ongoing subsidization of Korean DRAM manufacturers violates free market principles and has resulted in excess supply in the international market for DRAM products," said Steve Appleton, president and CEO of Micron, in a statement. "Inefficient manufacturing operations should not be allowed to escape normal market forces. Korea has not kept its commitments to the World Trade Organization and continues to violate U.S. Countervailing Duty laws."
In response, Hynix denied it had received subsidies from the Korean government, according to a report from Reuters.But on the other hand, Hynix has been bailed out twice by creditors and owes more than $5 billion, the report said.
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