Regions

South Korea expresses concern about US veto on Apple ban

August 5
9:14 AM 2013

On Monday, the South Korean government expressed its concerns regarding US President Barack Obama's ruling to veto Apple products' import ban in America. It said the decision could negatively impact the patent rights of Samsung Electronics Co.

The government stated it would closely pay attention to the verdict of the US International Trade Commission that was supposed to be released this coming Friday. The trade organization would determine if it would ban some Samsung Galaxy merchandises from the US. This was after Apple filed a complaint that accused Samsung of patent infringement.

"We hope to see a fair and reasonable decision on the matter," South Korea's Ministry of Trade, Industry & Energy said through a statement.

This day, over US$1 billion was removed from the market value of Samsung following the surprise veto. Its shares ended 0.9% less at KRW1,272,000 or US$1,133. Samsung refused to give a comment on what it looks forward to from ITC later this week.

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