Brussels, 27/08/2003 (Agence Europe) - South Korea has lost no time in reacting to the announcement of EU anti-subsidy measures against microchips manufactured by Hynix (see previous article) by lodging a formal complaint with the World Trade Organisation. The South Korean authorities is preparing to hold consultations with their counterparts at the European Commission to seek an out-of-court solution to the dispute. It maintains that the funding granted to Hynix in the form of bank loans is completely legal and independent of any government influence. Seoul also highlights the largely negative impact of the EU compensation measures in terms of its exports. Exports of dynamic random access memory or DRAM are South Korea's main export product, earning nearly $6 million a year.