Industry ministry denies US sought Honam semiconductor investment

The industry ministry said that a newspaper report claiming the US side raised semiconductor investment by invoking Honam during strategic-investment discussions on Minister Kim Jeong-gwan's recent United States visit was untrue.

The ministry was responding to a Chosun Ilbo article that said Kim's trip began Aug. 16 and lasted three nights and four days. It described the visit as negotiations over US investment and attributed requests to the US side.

The newspaper said the US side sought investment in a local facility for producing memory products. It also reported a request for supplies of memory volumes, tying both alleged requests to the negotiations during Kim's visit.

The ministry rejected the claim that the US side had mentioned Honam semiconductor while raising an investment. Its denial addressed the reported reference to Honam in strategic-investment discussions, which it said did not occur during Kim's visit.

The industry ministry is responsible for industrial development, trade and international cooperation. Its stated role also includes helping companies expand overseas and improve their competitiveness through trade and international cooperation.

The clarification also set out the ministry's principle for selecting a semiconductor site in Honam. Government and companies would consult each other on a diverse group of candidate locations across the country before the company involved makes the final selection.

The company retains responsibility for the final choice after the consultations have been completed. Under the process described by the ministry, that choice follows discussions of a diverse nationwide group of candidates between the government and companies.