{"id":5226,"date":"2008-04-08T08:45:25","date_gmt":"2008-04-08T08:45:25","guid":{"rendered":"http:\/\/localhost:8080\/hynix-applauds-european-commission-move-to-lift-countervailing-duties-on-hynix-drams\/"},"modified":"2026-06-10T07:30:20","modified_gmt":"2026-06-10T07:30:20","slug":"hynix-applauds-european-commission-move-to-lift-countervailing-duties-on-hynix-drams","status":"publish","type":"post","link":"https:\/\/news.skhynix.com\/en\/hynix-applauds-european-commission-move-to-lift-countervailing-duties-on-hynix-drams\/","title":{"rendered":"hynix Applauds European Commission Move to Lift Countervailing Duties on Hynix DRAMs"},"content":{"rendered":"<p><strong>ICHEON, Korea \u2014April 10th, 2008<\/strong><br \/>\nOn April 7th, 2008 the Council of the European Union (\u201cCouncil\u201d) formally adopted a decision to lift countervailing duties on imports of dynamic random access memory chips (\u201cDRAMs\u201d) from Korea manufactured by hynix Semiconductor Inc. hynix management greeted the Council\u2019s action with praise and a degree of vindication.<\/p>\n<p>\u201cWe commend the Council for taking the right course of action in this matter,\u201d said Min Goo Choi, a Senior Vice President at the company. \u201cFor five years hynix and the Government of Korea have fought the imposition of these duties before the European Commission and at the World Trade Organization and we are happy that we have finally secured their just termination,\u201d he added.<\/p>\n<p>In 2003 the Council determined that the Government of Korea had illegally subsidized hynix by allegedly directing banks to engage in a non-commercial financial restructuring of the company. The Council\u2019s decision was overturned by the World Trade Organization in 2005 and hynix continued to press its case within the European court and before the European Commission.<\/p>\n<p>As importantly, during this time, hynix\u2019s financial performance dramatically improved. hynix\u2019s stock price increased by nearly 514% percent over the 2003 \u2013 2007 period and the company re-emerged as an industry leader. Restructured debt was repaid early and hynix creditors made substantial returns on debt they converted to equity. Mr. Choi stated that \u201chynix\u2019s strong performance and return on investment over the 2003-2007 period demonstrates the sound commercial judgment of hynix creditors back in 2001 and 2002 when they agreed to restructure hynix debt. There was no government interference, just a wise business decision.\u201d<\/p>\n<p>With no justification for continued imposition, the Council agreed to lift the countervailing duties, retroactively effective from December 31st 2007. The Council\u2019s action should provide hynix with greater flexibility and stability in meeting customer needs.<\/p>\n<p><strong>About hynix Semiconductor Inc.<\/strong><br \/>\nhynix Semiconductor Inc.(HSI) of Icheon, Korea, is the world\u2019s top tier memory semiconductor supplier offering Dynamic Random Access Memory chips (\u201cDRAMs\u201d) and Flash memory chips to a wide range of established international customers. The Company\u2019s shares are traded on the Korea Stock Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about hynix is available at <a class=\"-as-ga\" href=\"http:\/\/www.hynix.com\" target=\"_blank\" rel=\"noopener noreferrer\" data-ga-category=\"sk-hynix-newsroom\" data-ga-action=\"click\" data-ga-label=\"goto_http:\/\/www.hynix.com\">www.hynix.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ICHEON, Korea \u2014April 10th, 2008 On April 7th, 2008 the Council of the European Union (\u201cCouncil\u201d) formally adopted a decision to lift countervailing duties on imports of dynamic random access memory chips (\u201cDRAMs\u201d) from Korea manufactured by hynix Semiconductor Inc. hynix management greeted the Council\u2019s action with praise and a degree of vindication. \u201cWe commend [\u2026]<\/p>\n","protected":false},"author":23,"featured_media":3393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_migrated_source_id":1950,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[4],"tags":[622],"class_list":["post-5226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press","tag-drams"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/posts\/5226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/comments?post=5226"}],"version-history":[{"count":1,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/posts\/5226\/revisions"}],"predecessor-version":[{"id":6757,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/posts\/5226\/revisions\/6757"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/media\/3393"}],"wp:attachment":[{"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/media?parent=5226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/categories?post=5226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.skhynix.com\/en\/wp-json\/wp\/v2\/tags?post=5226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}