Reports have emerged that the U.S. government is demanding a share of the "excess profits" from South Korean semiconductor companies, sparking controversy online. Concerns are rising that discussions on excess profit distribution in South Korea may be influencing international perceptions, leading to criticism across the political spectrum.
On July 17, The Korea Times reported that the U.S. government conveyed its position that it deserves a portion of the substantial profits generated by South Korean semiconductor firms due to their success in AI semiconductors, arguing that the U.S. has contributed to this success.
According to industry sources, during a meeting last month, Rick Switzer, Deputy U.S. Trade Representative, told Yeo Han-goo, head of the Trade Negotiation Bureau at the Ministry of Trade, Industry and Energy, that "the U.S. is entitled to a share of the significant profits made by SK Hynix and Samsung Electronics."
Sources explained that the argument is based on the premise that U.S. companies have significantly contributed to the performance of South Korean firms by purchasing semiconductors in large quantities. They suggested that if South Korean partners receive excess profits, U.S. companies could claim the same rationale.
A senior government official confirmed to The Korea Times that the U.S. made such remarks but did not disclose specific details.
Following the news, reactions poured in on online communities.
In progressive circles among those in their 20s and 30s, comments included, "This shows that the idea of excess profit distribution is fundamentally flawed," and "We inadvertently provided the U.S. with a reason to demand a share." Others criticized, saying, "This is not just about cutting the golden goose; it’s akin to slaughtering it."
Conservative groups in the same age range also expressed discontent, stating, "We’ve set a dangerous precedent that has led to these demands," and "The excess profit controversy has given them a legitimate reason to ask for a share." They remarked, "The U.S. is now trying to get a piece of the pie," and questioned whether the government’s policies against conglomerates have led to this situation.
Meanwhile, The Korea Times sought confirmation from the U.S. Trade Representative (USTR), the Department of Commerce, and the Department of the Treasury regarding the statements but did not receive a response. The Ministry of Trade, Industry and Energy also stated, "We are not aware of the related comments and currently have no information to confirm or discuss."
This report comes amid ongoing debates in South Korea about sharing excess profits from semiconductor companies with partners or returning them to society. Recently, discussions have emerged regarding the potential sharing of excess profits from Samsung Electronics and SK Hynix with their partners or contributing to social causes.
* This article has been translated by AI.
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