-- The Biden administration will allow Samsung Electronics Co. and SK Hynix Inc. to acquire the equipment they need to sustain and expand their giant chipmaking operations in China, a victory for the world’s two biggest memory makers.Washington has effectively granted the pair an indefinite waiver on broader restrictions banning the shipment of advanced chipmaking gear to China, South Korea’s presidential office said in a statement.
Hynix warned in 2022, when Washington unveiled its broadest series of chip export restrictions, that escalating curbs could force the closure or sale of a major plant in China in a worst-case scenario. It operates a DRAM factory in Wuxi in central China, which produces a major proportion of its global memory chips, and also runs NAND facilities in the northern city of Dalian.
Washington has decided to scrap that restriction for Hynix and Samsung with immediate effect, local news agency Yonhap first reported on Monday. Samsung is likely to secure a US grant for new facilities in Texas, while the company also makes NAND in central China in Xi’an.--With assistance from Sangmi Cha and Mayumi Negishi.World Bank explores expanding loan guarantees for private financing
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