South Korea proposes a special chips act to boost its semiconductor industry with subsidies and work hour exemptions.

South Korea's ruling party proposes a special chips act to support the semiconductor industry, offering subsidies and exemptions from working hour limits to compete with rivals like China and the US. The bill, vital for South Korea's economy as chips account for 16% of exports, requires opposition approval. Samsung's labor union opposes longer working hours for R&D employees.

November 11, 2024
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