China is investigating foreign chipmakers
Samsung has confirmed that it is being investigated by Chinese authorities as part of a probe that reportedly targets chipmakers based in South Korea and the United States.
China's State Administration for Market Regulation is also investigating US tech firm Micron Technology (MU) and South Korea's SK Hynix, according to the Wall Street Journal.
Samsung (SSNLF) said in a statement that investigators had visited its offices in China on May 31. The company said it is cooperating with authorities.
The Chinese regulator did not immediately respond to a request for comment.
Shares in Samsung closed 0.4% lower in Seoul, while SK Hynix shed 1.8%. Micron shares were down 0.8% in premarket trading.
Related: How China plans to beat the U.S. at technology
China purchases most of its semiconductors from foreign companies for use in everything from smartphones to automobiles.
The Chinese government wants to develop its own chip industry, and it has tried to buy stakes in US chipmakers at least twice. Both attempts were blocked by US authorities.
The country has been locked in a dispute with the United States over technology for months. The biggest flashpoint is Chinese smartphone maker ZTE (ZTCOF), which has been banned from buying parts, including chips, from American companies.
Micron, which is based in Boise, Idaho, did not respond to a request for comment. Representatives from SK Hynix were not available after business hours.
-- Sherisse Pham contributed reporting.
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