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South Korea Invests $3.5B in Future Chip Technology
10 Aug
Summary
- A new $3.52 billion semiconductor fund will support promising chip materials, components, and fabless companies.
- The government plans to provide 5 trillion won in trade finance for export-oriented suppliers.
- Water supply and power infrastructure are being secured for major semiconductor projects.
South Korea is making a substantial investment in its semiconductor sector with a new 5 trillion won ($3.52 billion) fund. This initiative is designed to nurture promising players in critical areas such as chip materials, components, and fabless design companies.
The government's strategy also includes providing 5 trillion won in trade finance to support suppliers geared towards exports. Furthermore, efforts are being made to pass the Mega Special Zone Act this year, aiming to expedite permits and infrastructure development.
Significant infrastructure developments are planned to support these semiconductor ambitions. By 2030, the Honam region will have a secure water supply of 650,000 tonnes for semiconductor projects. Additionally, the Yongin semiconductor cluster is slated to receive 14.7 gigawatts of power by 2041.
