Technology

Micron claims Hynix bailout is illegal

US DRAM maker Micron Technology has attacked a $4bn bailout to help keep Hynix Semiconductor in business as another case of illegal government subsidies. Though the money has come from Hynix creditors who see it as the only way of recouping the $5.2m they are owed by the South Korean DRAM maker, Micron claims that most of the creditors are government-backed.

Staff Writer January 2, 2003

We believe the ongoing investigations will prove that the Korean government’s continued billion-dollar bailouts of Hynix are in clear violation of free market principles and of WTO (World Trade Organization) and US trading laws, said one official.

The US government is already probing state subsidies to Korean chipmakers, and the South Korean government has requested a delay in answering a questionnaire from Washington on the issue, saying that it is so extensive that it will take some time.

Source: Computerwire

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