NEWS

South Korea Pulling Out The Stops With Support Package Worth Over $7 Billion

South Korea is preparing a support package for chip investments and research worth more than 10 trillion won ($7.30 billion).

Finance Minister Choi Sang-mok announced that the government aims to win the “war” in the semiconductor industry.

The package will target chip materials, equipment makers, and fabless companies throughout the semiconductor supply chain.

Possible components of the program include policy loans and the establishment of a new fund financed by state and private financial institutions.

Additionally, South Korea is building a mega chip cluster in Yongin, south of Seoul, which is touted as the world’s largest high-tech complex for chip manufacturing.

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