According to the South Korean Presidential Office, President Yoon Suk-yeol on May 23 announced a plan for a support package for the country's important semiconductor industry worth 26,000 billion won (19.05 billion USD).
The government plans to launch a financial support program for the semiconductor (chip) industry through the state-run Korea Development Bank to support large-scale investments by semiconductor companies, President Yoon Suk-yeol said, Reuters reported.
President Yoon Suk-yeol also asked the industry ministry to come up with innovative measures to enhance South Korea's competitiveness in the chip sector, according to the presidential office.
South Korea plans to build the world's largest semiconductor cluster in Kyunggi Province by investing about $470 billion over the next 23 years in partnership with major electronics companies Samsung Electronics and SK Hynix.
President Yoon Suk-yeol believes the ambitious “mega cluster” is expected to create nearly 3.5 million jobs. To support the plan, the government has proposed measures including tax incentives for investment and initiatives to boost competitiveness. South Korea aims to increase its self-sufficiency in materials, components and equipment essential for chip production to 50 percent by 2030.
South Korea currently dominates the production of DRAM and NAND memory chips used to manage and store data in devices such as PCs, smartphones and SD cards, with a global market share of over 60%. South Korea aims to increase its share of chips for other processors.
Samsung is also looking to overtake Taiwan Semiconductor Manufacturing Company (TSMC)'s lead in wafer manufacturing, which are thin disks made of semiconductor material, primarily silicon, that serve as the first layer in creating semiconductor components.
HUY QUOC
Source: https://www.sggp.org.vn/han-quoc-cong-bo-goi-ho-tro-hon-19-ty-usd-cho-nganh-cong-nghiep-ban-dan-post741209.html
Comment (0)