Samsung Electronics Co.’s 12-layer HBM3E, top and other DDR modules are deployed in Seoul, South Korea, on Thursday, April 4, 2024. Strong sales. Photographer: SeongJoon Cho/Bloomberg via Getty Images
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South Korea is preparing a chip investment and research support package worth more than 10 trillion won ($7.3 billion) as it focuses on winning the “war” in the semiconductor industry, its finance minister said on Sunday.
Finance Minister Choi Sang-mok said the government would soon announce details of the plan, which targets chip materials, equipment manufacturers and fabless companies across the semiconductor supply chain.
The Finance Ministry said in a statement that Choi told top executives of domestic chip equipment makers at a meeting that the plan could include providing policy loans and setting up new funds financed by state and private financial institutions.
South Korea is also building a giant chip cluster in Yongin, south of the capital Seoul, which it claims is the world’s largest such high-tech complex.
South Korean President Yoon Seok-yeol has vowed to devote all possible resources to winning the chip “war” and promised tax incentives for investment.