Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (51138)	4/13/2000 1:30:00 PM
From: DJBEINO	Respond to of 53903

South Korea Seeks WTO Ruling in U.S. Computer Chip Dispute 4/13/00 9:01:00 AM Source: Bloomberg News Geneva, April 13 (Bloomberg) -- South Korea has asked the World Trade Organization to investigate a complaint that the U.S. failed to comply with an earlier ruling ordering it to remove duties on Korean computer chips. The WTO ruled in December 1998 that U.S. anti-dumping duties imposed on dynamic random-access memory, or DRAM, chips made by Hyundai Electronics Industries Co. and LG Semicon Co. violate global trade rules. The U.S and Korea later agreed that Washington would revoke the duties by Nov. 19, 1999. At issue are U.S. Commerce Department procedures for reviewing anti-dumping orders. That process, which the WTO judged unfair, requires foreign companies to prove they aren't likely to dump or sell their products in the U.S. below cost in the future. 'The U.S. continued to apply the anti-dumping order on DRAMs from Korea,' Korea's complaint said. 'The amended regulation does not impose on the U.S. the burden to establish that continued imposition of the duty is illegal.' Korea also asked the WTO to 'suggest how the U.S. might implement its rulings.' The dispute marks the first time a WTO member has asked for a panel to probe alleged failure of the U.S. to comply with a WTO decision. If the arbitration panel upholds the complaint, Korea can seek sanctions against the U.S. or compensation. Attempts by the two countries to find a compromise failed last month. Korea said it will ask the WTO's dispute settlement body to examine the issue at a special meeting after Easter. The penalties, which apply to the most common chips found in personal computers and other electronic devices, were first levied in 1993 to retaliate against what the U.S. called unfairly priced imports. LG Semicon was acquired by Hyundai, part of South Korea's largest conglomerate, for $2.2 billion last year. Earlier this month, the Geneva-based WTO rejected a U.S. complaint that Korea illegally blocked foreign competition in awarding government contracts for a $5.5 billion airport project near Seoul, a South Korean official said.