Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

U.S. says firms may meet chip data request amid Taiwan, S.Korea concerns

10/22/2021 | 10:11am EST
FILE PHOTO: The logo of semiconductor manufacturer Infineon is seen at its Austrian headquarters in Villach

LONDON (Reuters) -The U.S. Commerce Department said on Thursday companies such as Intel and Infineon had signaled they would cooperate with a voluntary request for data on the chips crisis, but may make it compulsory depending on the number and quality of responses.

The White House made the request to automakers, chip companies and others last month, saying the information would boost supply-chain transparency and help understand where bottlenecks exist. The deadline for firms to respond is Nov. 8.

"Companies including Intel, GM, Infineon, and SK Hynix, have indicated that they plan to be very forthcoming with their data. We are very appreciative of their efforts and encourage other companies to follow suit," a Commerce spokesperson told Reuters.

"The (request for information) is voluntary, but this information is crucial to addressing concerns about transparency in the supply chain. Whether or not we have to use compulsory measures depends on how many companies engage and the quality of the data shared."

The request has caused concern in Taiwan that companies such as Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker and a major Apple Inc supplier, would have to hand over sensitive data. TSMC said earlier this month it would not leak any sensitive company information.

TSMC said in a statement to Reuters it is preparing and will respond to the U.S. request for information.

"TSMC has been actively supporting and working with all stakeholders to overcome the global semiconductor supply challenge," it said.

"Looking forward, to increase the demand visibility in this complex supply chain should be the path to avoid such shortages from happening in the future. We have been a strong partner in this effort and will continue taking actions to address this challenge."

A GM spokesperson confirmed the Commerce Department statement, saying the company "will submit data within the requested timeframe," while Infineon declined to comment on "ongoing communications with governments." Intel and SK Hynix did not immediately respond to requests for comment.

South Korea's trade ministry has also expressed concern over the request.

"The scope of the requested data is vast and a number of operational secrets are included, which is a big concern in South Korea," it said in an Oct. 6 statement.

However, South Korea's trade minister, Moon Sung-wook, told a parliamentary committee on Thursday that companies were preparing to review and submit data that can be provided without violating contractual confidentiality provisions or domestic laws.

Automakers, including GM, Toyota Motor Corp and Renault, have slashed output and sales forecasts due to scarce chip supplies, made worse by a COVID-19 resurgence in key Asian semiconductor production hubs.

(Reporting by David Shepardson in Washington, Ben Blanchard in Taipei and Joyce Lee in Seoul; Writing by Brenda Goh in Shanghai; Editing by Kim Coghill, David Evans and Paul Simao)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.32% 164.77 Delayed Quote.24.18%
INFINEON TECHNOLOGIES AG -3.66% 40.525 Delayed Quote.34.09%
INTEL CORPORATION -1.22% 48.6 Delayed Quote.-2.45%
RENAULT -1.45% 28.885 Real-time Quote.-17.98%
SK HYNIX INC. 2.19% 116500 End-of-day quote.-1.69%
Latest news "Economy & Forex"
07:05aMortgage Coach executive Kelli Hodges honored with National Mortgage Professional’s 2021 Mortgage Lending’s Women of Inspiration award
SE
07:05aJournalist Elaine Alice Murphy is set to release her memoir, ĹIn for Life’
SE
07:05aSimpleNexus makes third consecutive appearance on Deloitte Technology Fast 500Ö, ranking number 292
SE
07:00aRenton Plumbing Company Offers Service to Support Other Local Plumbers
SE
07:00aNew men’s luxury brand North Country successfully navigates global supply chain crisis
SE
06:58aApple tells suppliers demand for iPhone 13 lineup has weakened - Bloomberg News
RE
06:56aFTSE Down, Pound Likely to Shrug Off Any Negative Brexit Headlines For Now
DJ
06:53aCanada's CIBC profit misses on higher provisions, lifts dividend 10%
RE
06:51aMINISTRY OF POWER OF REPUBLIC OF INDIA : Production Linked Incentive (PLI) Schemes being implemented to enhance India's Manufacturing Capabilities and Enhancing Exports of Hybrid and Electric Vehicles
PU
06:48aKellogg reaches tentative deal with union after 2 months of strike
RE
Latest news "Economy & Forex"