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Gov’t vows to create world’s largest chip supply chain
May 14, 2021, 08:50 am
Source: The Ministry of Trade, Industry and Energy
AsiaToday reporter Choi Won-young
Samsung Electronics and SK Hynix will invest 510 trillion won ($458.1 billion) in semiconductors for 10 years while the government will provide tax cuts and cheap loans to establish the world’s largest semiconductor supply chain, the so-called ‘K-Semiconductor Belt’. The new semiconductor cluster will cover the Gyeonggi provincial areas of Pangyo and Yongin.
President Moon Jae-in announced the ‘K-Semiconductor blueprint’ aimed at making South Korea the world’s No. 1 semiconductor powerhouse by 2030, at Samsung’s chip manufacturing center in Pyeongtaek, Gyeonggi Province, on Thursday. The event was participated in by officials from the government and private sector including Deputy Prime Minister for Economic Affairs Hong Nam-ki, Deputy Prime Minister for Social Affairs Yoo Eun-hye, Samsung Electronics
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