South Korean Giants – Samsung and SK Hynix – To Submit Data

In the latest news of events across the globe, the U.S. Government is about to receive voluntary semiconductor data from global manufacturers and automakers. 

Only two months ago, on 23rd September, the U.S. Department of Commerce had demanded voluntary submission from the manufacturers where they had to fill a survey form regarding the supply chain of sales, chip inventory, orders, information of the customers, and much more. The deadline for the submission was said to be the 8th of November. 

A statement was released by the Finance Minister of South Korea this past Sunday where they mentioned the plans for South-Korean chipmakers voluntarily submitting the internal information to The U.S. Department of Commerce.

The global giants from South Korea, namely Samsung Electronics and SK Hynix were said to be amongst the firms that would be submitting the semiconductor information, as per the statement of the South Korean Ministry of Economy and Finance. 

The customers do not have to be concerned as Samsung and SK Hynix will not be revealing any sensitive data, so as to safeguard the trade secrets and keep the privacy of their consumers. In the other words, it was reported that although Samsung and SK Hynix will be complying with the US, the compliance will only be partial, with the exclusion of sensitive data. 

U.S. Commerce Secretary Gina Raimondo

The U.S. Commerce Secretary Gina Raimondo sat down in an interview with Reuters in September where the Secretary mentioned the purpose of voluntary request of information being the growth in transparency so the blockages in the global supply chain can be recognized easily and the obstacles for global semiconductor shortage are predicted early. “We have other tools in our toolbox that require them to give us data. I hope we don’t get there. But if we have to, we will”, stated Gina Raimondo on being asked if the firms do not comply with the request.

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