Chip export curbs not aimed at hurting businesses, says US official

The United States’ implementation of export controls on semiconductor equipment is not intended to interfere with business activities, a senior US official said, stressing that it will closely engage with the South Korean government and related industries over the matter.

Thea Kendler, US assistant secretary of commerce for export administration, made the remarks, as Washington’s new set of export restrictions have sparked concerns they will deal a serious blow to South Korean chipmaking companies, primarily Samsung Electronics and SK hynix.

The export curbs, announced by the US Commerce Department on October 7, require US companies to obtain licenses to ship to China their equipment that can be used to produce advanced chips. Shipments to foreign firms operating in China will be reviewed on a case-by-case basis, reports Yonhap news agency.