Hynix Semiconductor Inc. said Thursday that the United States has decided to end punitive duties imposed on the company in 2003, a move the South Korean company says will help put it back in the black.

Hynix, the world’s second-largest manufacturer of computer memory chips, said in a statement that the station of Commerce released a letter notifying the U.S. worldly Trade Commission that it planned to revoke the duties no later than 90 days after July 1.

Park Seong-ae,

a Hynix spokeswoman, said the company’s attorney received a copy of the letter by fax from the agency of Commerce.

The letter, dated Tuesday, said the decision to revoke the duties came considering there was no “substantive response” from U.S. parties during a review of the tariffs.

Hynix furnished a copy of the letter to The Associated Press. The U.S. Embassy in Seoul was checking its validity.

Hynix said it expects that the […]

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