South Korea’s Hynix Faces 45% Tariffs

Hynix Semiconductor Inc., the world’s third-largest maker of memory chips, faces tariffs of as much as 45% after a U.S. agency found that exports from the South Korean company were injuring American competitors.

The 3-0 ruling by the International Trade Commission is a victory for Micron Technology Inc., the second-largest producer in a $16-billion global market, in a dispute that Korea has called its most important trade issue with the U.S.

Boise, Idaho-based Micron filed the complaint, and the Commerce Department last month determined that loans and guarantees to Hynix from lenders backed by the South Korean government amounted to illegal subsidies.

Micron rose $1.08 to $15.38 on the NYSE.

South Korea disputes the Commerce Department’s finding and has complained to the World Trade Organization.