US Seeks Share of Korean Chipmakers’ “Excess Profits”: Source

A source says the U.S. is pressing for a portion of the “enormous profits” Korean semiconductor firms are earning during the AI chip boom, arguing that American demand—and U.S. purchases of large volumes—helped drive the earnings. The claim is tied to discussions between USTR Deputy Rick Switzer and Korea’s trade ministry, amid an ongoing debate in Korea over what counts as “excess” profits and whether gains should be shared with subcontractors or the public.