South Korea unveils $19bn support package for semiconductor industry, targeting large investments and non-memory chip sector competitiveness.
South Korea unveiled a $19 billion support package for its semiconductor industry, aiming to boost large-scale investments by companies and enhance competitiveness in the non-memory chip sector. The package includes a $12 billion financial support program via the state-run Korea Development Bank and a $733 million fund to aid equipment manufacturers and fabless companies. The initiative surpasses earlier plans announced by Finance Minister Choi Sang-mok, and seeks to address global competition in the sector.
May 23, 2024
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