ID :
55212
Mon, 04/13/2009 - 18:09
Auther :
Shortlink :
https://www.oananews.org//node/55212
The shortlink copeid
Japan to lift tariffs on S. Korea`s Hynix computer chips
(ATTN: ADDS share price of Hynix in 5th para)
SEOUL, April 13 (Yonhap) -- Japan has decided to lift punitive tariffs on
computer chips made by South Korea's Hynix Semiconductor Inc., in a move expected
to settle a three-year trade dispute between the two countries, officials here
said Monday.
Tokyo will remove the 9.1-percent tariff imposed on Hynix, the world's
second-largest memory chip maker, later this month.
The Japanese government lowered its tariff on Hynix chips from 27.2 percent in
September last year to 9.1 percent after the World Trade Organization (WTO) ruled
that its countervailing tariff was unfair.
The final decision by Japan to scrap the tariff will need approval during a
Cabinet meeting on April 17, according to officials. An official announcement is
expected to be made on April 22.
Shares of Hynix Semiconductor closed at 13,400 won (US$10.1) on the Seoul bourse,
down 0.74 percent.
Japan imposed the tariff on Hynix chips in January 2006 arguing that Hynix
received subsidies from the South Korean government in 2001 and 2002 in violation
of fair trade rules in the Japanese market.
The decision follows similar actions taken by the European Union and the United
States in 2007 and 2008, respectively, to remove duties on Hynix.
Welcoming Japan's decision to remove the tariff, Hynix said it aims to raise its
market share in Japan to 20 percent from the current 15 percent. The company said
with the decision it could post an additional US$200 million in annual sales,
which will help it remain in the black.
The company added that it will get $5 million back in excess duties paid to Japan.
According to statistics from market researcher Gartner Dataquest, Japan's DRAM
market was led in 2008 by local company Elpida Memory Inc., with 36.2 percent,
compared to 26.8 percent held by the world's largest chipmaker Samsung
Electronics and Hynix's 15.4 percent.
Hynix claimed its market share in Japan has dropped 4 percentage points since
January 2006, when Tokyo levied punitive tariffs on the company that dented sales
by up to $150 million.
The chipmaker reported a fifth-straight quarterly loss in the October-December
period on stalled sales and lower chip prices amid a global recession, with net
loss widening to 1.33 trillion won compared with a 462 billion won deficit a year
earlier.
sam@yna.co.kr
(END)
SEOUL, April 13 (Yonhap) -- Japan has decided to lift punitive tariffs on
computer chips made by South Korea's Hynix Semiconductor Inc., in a move expected
to settle a three-year trade dispute between the two countries, officials here
said Monday.
Tokyo will remove the 9.1-percent tariff imposed on Hynix, the world's
second-largest memory chip maker, later this month.
The Japanese government lowered its tariff on Hynix chips from 27.2 percent in
September last year to 9.1 percent after the World Trade Organization (WTO) ruled
that its countervailing tariff was unfair.
The final decision by Japan to scrap the tariff will need approval during a
Cabinet meeting on April 17, according to officials. An official announcement is
expected to be made on April 22.
Shares of Hynix Semiconductor closed at 13,400 won (US$10.1) on the Seoul bourse,
down 0.74 percent.
Japan imposed the tariff on Hynix chips in January 2006 arguing that Hynix
received subsidies from the South Korean government in 2001 and 2002 in violation
of fair trade rules in the Japanese market.
The decision follows similar actions taken by the European Union and the United
States in 2007 and 2008, respectively, to remove duties on Hynix.
Welcoming Japan's decision to remove the tariff, Hynix said it aims to raise its
market share in Japan to 20 percent from the current 15 percent. The company said
with the decision it could post an additional US$200 million in annual sales,
which will help it remain in the black.
The company added that it will get $5 million back in excess duties paid to Japan.
According to statistics from market researcher Gartner Dataquest, Japan's DRAM
market was led in 2008 by local company Elpida Memory Inc., with 36.2 percent,
compared to 26.8 percent held by the world's largest chipmaker Samsung
Electronics and Hynix's 15.4 percent.
Hynix claimed its market share in Japan has dropped 4 percentage points since
January 2006, when Tokyo levied punitive tariffs on the company that dented sales
by up to $150 million.
The chipmaker reported a fifth-straight quarterly loss in the October-December
period on stalled sales and lower chip prices amid a global recession, with net
loss widening to 1.33 trillion won compared with a 462 billion won deficit a year
earlier.
sam@yna.co.kr
(END)
