According to Yonhap News Agency, the US has allowed exports of its semiconductor manufacturing equipment to Samsung Electronics and SK Hynix factories in China indefinitely without separate US approvals. Choi Sang-mok, Seoul’s senior presidential secretary for economic affairs, said that the US government granted Samsung Electronics and SK Hynix the status of "verified end users" (VEU). This means that the companies receive a general license to import semiconductors from the US, reducing the burden of obtaining one-off licenses to comply with US export control measures. "The US government's decision means that the most significant trade issue of our semiconductor companies has been resolved. Uncertainties about South Korean semiconductor firms' operations and investments in China have been greatly eased; they will be able to calmly seek long-term global management strategies," Choi Sang-mok said. At the same time, the official noted that the approval was granted thanks to the joint actions of South Korean companies and the government. In October 2022, the US announced rules that restrict exports of advanced semiconductor manufacturing equipment and items to companies in China, including Samsung Electronics and SK Hynix. The two chipmakers received a one-year waiver amid fears that the imposed restrictions could disrupt global supply chains. Notably, Samsung Electronics is considered the world's largest memory chip maker. In the Chinese city of Xian, the company’s manufacturing plant accounts for more than 40% of its global NAND flash production. Its rival SK Hynix also operates multiple plants in China. One of them produces about 50% of its global DRAM chips in the eastern city of Wuxi.