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Jan 23 9:30 AM EST

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To: Dave Gahm who wrote (32245)	4/18/1998 1:27:00 PM
From: DJBEINO	Read Replies (1) of 53903

SIA Surprises South Koreans With Late Resolution By Jack Robertson April 20, 1998, TechWeb News The U.S. Semiconductor Industry Association (SIA) submitted a last-minute resolution to the World Semiconductor Council (WSC) in Carlsbad, Calif., last week to prevent any International Monetary Fund money from being used to bail out South Korea's chip makers. "We decided it was time to turn the World Semiconductor Council into a real organization with some force," an SIA member executive told EBN. Sources said that the private session became tense after the unexpected resolution was introduced by the SIA, which reacted to a report from South Korea last week that the government there was planning to use $700 million in World Bank relief funds to buy debt and equity shares in financially distressed companies. Sources at the WSC session said the Koreans objected to the last-minute introduction of the resolution because they didn't have time to prepare a response. SIA officials reportedly asked why the Korean SIA couldn't affirm in a WSC resolution that its country's chip makers would not receive IMF money, a claim that it has already publicly stated.

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