On her visit to South Korea, US vice president Kamala Harris vowed to work with the country to resolve the disputes surrounding the US Inflation Reduction Act (IRA). Signed into law last month, IRA lays out tax credits of up to US$7,500 for electric vehicles (EV) assembled in the US, Canada and Mexico, but threatens to damage South Korea automaker Hyundai and its affiliate Kia. Hyundai, the second largest EV player in the US in terms of market share, announced in May 2022 to invest US$5.5 billion in constructing its first EV and battery plant in the US state of Georgia. Production, however, will only begin in 2025, making the project ineligible for state subsidies until then, and triggers skepticism toward the US within South Korean industry. Repercussions from the IRA are now further complicating the ongoing US efforts to secure South Korean commitments to join the US-led, so-called “Chip 4” alliance that also includes Taiwan and Japan.

VinFast has expanded its tie-up with Renesas Electronics under which Renesas will provide a broader range of products including SoCs, microcontrollers, analog and power semiconductors, as well as technical support, for VinFast’s electric vehicles (EV).

According to the latest data from Semiconductor Association of Japan (SEAJ), sales of Japanese semiconductor equipment increased by almost 40% in August, reaching JPY347.3 billion (US$2.41 billion), a record monthly performance. It also marks the 20th month of the sector’s consecutive growth. At the same time, geopolitical whirlwinds continue to swirl around Japanese shores: as Seoul Economic Daily reports, the so-called Chip 4 alliance among Taiwan, Japan, South Korea and the US held its first working-level pre-meeting on Tuesday, while US vice president Kamala Harris sought to meet Japanese semiconductor industry leaders during her 4-day Asia tour.

Apple’s new iPhone 14 series has been selling well after its official launch in September. However, with the first batch of new products still having a wait time of 5-7 weeks, industry sources have hinted that Apple intends to adjust its production line arrangement.