🚀 South Korea is stepping up its game in the global chip race! The country is gearing up to roll out a massive support package worth more than 10 trillion won ($7.3 billion) to supercharge its semiconductor industry. 💰
Finance Minister Choi Sang-mok announced on Sunday that the government will soon reveal details of this ambitious plan. The package aims to bolster investments and research across the entire semiconductor supply chain, focusing on chip materials, equipment makers, and fabless companies. 🛠️💡
The support program could feature policy loans and the creation of a new fund backed by both state and private financial institutions. This initiative was shared during a meeting with executives from domestic chip equipment manufacturers, highlighting the government's commitment to the industry. 🤝
Adding to the excitement, South Korea is constructing a mega chip cluster in Yongin, just south of Seoul. This colossal project is touted as the world's largest high-tech complex of its kind! 🌐🏗️
President Yoon Suk Yeol is all in on this mission, vowing to deploy all possible resources to win the \"war\" in the semiconductor arena. He's promised tax benefits for investments, showing just how serious South Korea is about leading the global chip market. 🔍📈
With these bold moves, South Korea is not just keeping up with global competitors—it's aiming to set the pace. Stay tuned to see how this high-stakes game changes the landscape of the tech world! 🕹️🌟
Reference(s):
South Korea prepares over $7 billion support package for chip industry
cgtn.com
