South Korea is going all-in to dominate the global semiconductor race! The government just announced a colossal 10 trillion won ($7.3 billion) support package to turbocharge chip investments and R&D – think policy loans, new funds, and mega perks for tech innovators.
Finance Minister Choi Sang-mok revealed plans to back the entire supply chain: materials, equipment makers, and fabless firms. The move comes as President Yoon Suk Yeol vows to win the \"war\" in chips, calling it a \"tech survival battle.\"
But wait, there's more: South Korea is also building a mega chip cluster in Yongin (near Seoul) that’s set to become the world’s largest high-tech complex. Imagine Silicon Valley, but make it kimchi-flavored.
Students and investors, take note: This isn’t just about factories. It’s a full-blown innovation ecosystem – think tax breaks, collaboration hubs, and next-gen chip breakthroughs.
Reference(s):
South Korea prepares over $7 billion support package for chip industry
cgtn.com