Minister wants to protect Samsung, SK hynix, from having to give up the crown jewels to score subsidies
The US government's plan to lure more chipmakers to the home of the brave has hit a snag in South Korea. That nation's trade minster is on his way to Washington with a message that some of the program's requirements don't sit well with the likes of Samsung and SK hynix.local media he sees"issues related to demanding too much information.
Among the requirements are"a detailed description of the core underlying technology and manufacturing processes to be utilized in the facility or facilities for which CHIPS Incentives are sought." Applicants will also need to submit"a detailed financial model for each proposed project" that details"projected cash flows … including capital expenditures, operating expenditures, revenues, taxes, and terminal values; the capital structure for the facility; internal rates of return and profitability metrics; scenarios under different macroeconomic, market, and operating environments to allow for sensitivity analysis and stress testing; and other information.
Minister Ahn has reportedly expressed concern that those requirements mean applicants for CHIPS Act funding will need to share technology secrets, as well as so much financial information that analysis could deliver valuable competitive intelligence.
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