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Friday, June 20, 2003
Unfair Tariffs on South Korea? In each case, the imposed tariffs were based on allegations that the South Korean government had unfairly subsidized Hynix. The company, which has lost more than $7.5 billion over the last four years, is controlled by its creditors, including several banks that are largely state-owned. Competitors like Micron Technologies, an American company that at one point came close to buying Hynix's main assets, and Infineon Technologies of Germany have complained that the bailouts, loans and loan guarantees provided or arranged by the state-owned banks amounted to subsidies that violated trade treaties.  |
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