The extension would mark an end to business uncertainty for South Korea’s Samsung Electronics and SK Hynix who have invested billions in their chip fabs in China

Top South Korean chipmakers Samsung and SK Hynix currently have permits to import US chip-making equipment into China, where they have extensive production facilities

But analysts warned China might struggle to move the needle into the green any time soon amid uncertain household income expectations

The deals follow the introduction of the US's Inflation Reduction Act, designed to wean the US off the Chinese supply chain for electric vehicles

Sukbae Lee, one of the scientists that the alleged superconductor LK-99 is named after, said the claims were in the process of being peer-reviewed

The unprecedented oversupply of commodity chips has lingered since last year, and added to woes of an industry that was battling a Covid-induced shortage until the first half of 2022

The South Korean tech giant estimated its Q2 operating profit fell to $459 million, the lowest for any quarter since the first half of 2009

Under the traditional age counting system, used most commonly in South Koreans' everyday life, people are deemed to be a year old at birth and a year is added every January 1

Prosecutors say 65-year-old Choi Jinseog, once hailed as a star in Korea's chip industry, tapped Samsung’s supplier network to steal information on factory layouts, cleanroom management

The move will allow the chipmakers, which include Samsung, SK Hynix and TSMC, to continue to import US chipmaking tools to China for use in their existing fabs in the country

South Korean president Yoon Suk Yeol vowed to support the South Korean chip sector in the face of heightened tensions between China and the United States

South Korea is in the crosshairs of a tit-for-tat row between China and the United States over semiconductors