South Korea unveils US$19-billion support package for semiconductor sector to compete in global chip ‘warfare’

South Korea on Thursday announced a 26 trillion won (US$19 billion) support package for its chip businesses, citing a need to keep up in areas like design and contract manufacturing amid “all-out warfare” in the global semiconductor market.

Under the package, South Korean President Yoon Suk-yeol said a financial support programme worth about 17 trillion won was planned through state-run Korea Development Bank to back investments by semiconductor companies, according to the presidential office.

Source: TRADE FINANCE