US seeks share of Korean chipmakers' 'excess profits': source

The U.S. is seeking a share in Korean semiconductor companies’ enormous profits owing from the global artificial intelligence (AI) chip boom, citing strong U.S. demand for Korean chips, according to an industry source. This comes amid debates here on what defines “excess” gains, whether they should be shared with subcontractors or even with the public, and how much each subcontractor or contributor is entitled to. The industry source familiar with the matter said during a meeting last month that Rick Switzer, deputy United States Trade Representative (USTR), told Korea's Trade Minister Yeo Han-koo that the U.S. side deserves a share of the massive profits of SK hynix and Samsung Electronics. “That was based on a rationale that American companies purchased large volumes of Korean semiconductors and thus contributed to the Korean firms' earnings,” the source said. “So, if the Korean chipmakers’ partner firms in Korea are entitled to parts of the profits, the American ones are, too.” A ranking government official also told The Korea Times that the U.S. side made such a claim