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US to lift Hyundai dumping fines

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US to lift Hyundai dumping fines

According a letter from Micron Technology, the Boise chip maker is agreeing to the US government’s ending of the eight-year-old dumping case against South Korea’s Hyundai Electronics Industries. Though the government has not yet made the announcement, it is expected that the Commerce department will drop the punitive 10.4% DRAM duties against Hyundai for so-called dumping, the practice of selling chips at very low rates into the US market, and return several months of fines presently in escrow. Hyundai was the last Korean chip maker paying DRAM dumping duties imposed as a result of a case Micron filed in 1992. The removal of the tariff came after South Korea agreed to drop its complaint against the US for impairment of free trade in the World Trade Organization.

For more, see semibiznews.com and/or theregister.co.uk.

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