Samsung, SK request gov t for more support to overcome chip shortage
Posted : 2021-04-09 16:47
By Kim Hyun-bin
Local semiconductor companies have requested the government for aid in order to better overcome the global chip shortage.
The Minister of Trade, Industry and Energy Sung Yun-mo hosted an event with major industry representatives from the Korea Semiconductor Industry Association (KSIA) and conglomerates officials at the Westin Chosun Hotel in Seoul, Friday to brainstorm ways to counter the global chip shortage crisis that has led to key automakers idling their plants.
Samsung Electronics President Lee Jung-bae, SK hynix CEO Lee Seok-hee and KSIA Chairman were among the officials that took part in the meeting.
Chip, display biz groups join South Korea s carbon neutrality vision
Posted : 2021-03-09 15:01
Updated : 2021-03-09 15:01
Makers of semiconductor, above, and display formed on Tuesday a new committee to cut down South Korea s greenhouse gas emission in compliance with the country s goal to neutralize carbon emission by 2050. Korea Times file
South Korea on Tuesday launched a new committee with business groups from chip and display industries aimed at cutting emissions of greenhouse gases, in line with the country s vision to go fully carbon neutral by 2050.
Under the ties with the Korea Semiconductor Industry Association and the Korea Display Industry Association, along with local businesses, the committee will make joint efforts to develop environment-friendly technologies to reduce emissions, according to the Ministry of Trade, Industry and Energy.
South Korea’s Semiconductor Industry Expected to See a Major Growth in 2021
It is expected that South Korea’s semiconductor exports will surpass $100 billion this year, which will be the second time ever for the country, and that South Korea will take back the top spot for amount of investments in semiconductor facilities from China and Taiwan after losing the spot two years ago. There will be strong demands for memory semiconductors, which are the main focus of Samsung Electronics and SK Hynix, as contactless economy continues to spread. Samsung Electronics’ foundry business will also see increased orders for system semiconductors, and there will also be increased system semiconductor exports due to demands for 5G modem chips and image sensors. South Korea’s semiconductor industry is expected to play a major role in vitalizing the South Korean economy once again through exports and investments.