Seoul, Aug. 11 -- South Korea's top chipmakers may escape the brunt of US President Donald Trump's proposed 100 per cent tariffs on imported semiconductors, after US Commerce Secretary Howard Lutnick clarified that companies investing in US manufacturing plants would be exempt.

"So what the President said is if you commit to build in America during his term, and if you file it with the Commerce Department and if your auditor oversees your building it all the way through, then he will allow you to import your chips -- while you are building -- without a tariff," Lutnick explained in a Fox Business interview, reported by The Korean Herald. "But you have to be confirmed and overseen building in America."

Under this clarification, Samsung a...