South Korean chipmakers are ramping up their lobbying presence in Washington to navigate US-China tensions and win critical export licences to supply Chinese companies targeted by trade sanctions.
Samsung, Hyundai, SK Group and LG, the country’s four biggest conglomerates, are leading the efforts as they bow to pressure from Washington to produce strategically sensitive goods such as semiconductors and electric vehicle batteries in the US.
LG will open a lobbying office in Washington next year, after its battery-making unit LG Energy Solution was embroiled in a multibillion-dollar legal dispute with domestic rival SK Innovation that threatened to disrupt Ford’s electric car plans in the US. The company also had to reimburse General Motors after a costly electric vehicle recall over battery flaws.