Samsung has secured emergency provides of 3 key materials that Japan had bring to a halt as a part of its export restrictions, averting a crisis at the South Korean company’s production lines.
Samsung Vice Chairman Jay Y Lee shared the outcome of his Japan trip with the company’s management during a directors meeting he hosted on Saturday, citing unidentified people familiar with the financial situation. “While it is unknown how Lee secured the additional inventory, or how big the emergency stock is, his procurement will help prevent a grave manufacturing deadlock,” Yonhap said.
Lee visited Tokyo last week to try to find alternative sources for semiconductors in response to Japan’s export curbs against South Korea, the Korea Times reported.
Japan’s ruling Liberal Democratic Party senior member Koichi Hagiuda said on Sunday that the inappropriate incidents that triggered Japan’s crackdown on certain exports to South Korea must have been serious. “The inappropriate incidents included cases affecting Japan’s national security,” Tetsuo Saito, a senior member of the Komeito Party in the ruling coalition party, said during the same debate.