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Samsung boosts non-memory chip investment to $151 billion as S Korea offers bigger tax breaks

Samsung boosts non-memory chip investment to $151 billion as S.Korea offers bigger tax breaks By Joyce Lee and Heekyong Yang Reuters SEOUL (Reuters) -Samsung Electronics on Thursday raised its planned investment in non-memory chips to 171 trillion won ($151 billion) through 2030, joining a rush of firms ramping up investments amid a global semiconductor shortage. Countries have also been working to bolster chip supply chains as the chip shortage affects production in industries such as autos. South Korea on Thursday said it would offer bigger tax breaks plus 1 trillion won ($883 million) in loans for its local chip industry. Some 153 chip companies including global No.1 and 2 memory chip makers Samsung and SK Hynix already have plans to invest a combined 510 trillion won or more between this year and 2030, according to the Korea Semiconductor Industry Association.

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Global chip shortage: South Korea to offer tax breaks to local chipmakers

Global chip shortage: South Korea to offer tax breaks to local chipmakers Events About If you already have an account please use the link below to sign in. If you have any problems with your access or would like to request an individual access account please contact our customer service team. Global chip shortage: South Korea to offer tax breaks to local chipmakers Government announces measures to foster the local non-memory chip industry and to tackle global shortages of automotive chips South Korea to offer tax benefits to local chip makers to boost non-memory chip industry South Korea announced on Thursday that it will offer tax incentives and loans to local chipmakers in an effort to foster the non-memory chip industry and to tackle global shortages of automotive chips.

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S Korea announces bigger tax breaks, loans to bolster local chip industry

TechnologySamsung boosts non-memory chip investment to $151 bln as S.Korea offers bigger tax breaks Joyce Lee 3 minute read The logo of Samsung Electronic is seen at its headquarters in Seoul, South Korea, April 4, 2016. REUTERS/Kim Hong-Ji Samsung Electronics on Thursday raised its planned investment in non-memory chips to 171 trillion won ($151 billion) through 2030, joining a rush of firms ramping up investments amid a global semiconductor shortage. Countries have also been working to bolster chip supply chains as the chip shortage affects production in industries such as autos. South Korea on Thursday said it would offer bigger tax breaks plus 1 trillion won ($883 million) in loans for its local chip industry.

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South Korean government urged to offer tax reduction by local chip industry

South Korean government urged to offer tax reduction by local chip industry
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Hyundai Motor shuts down plant due to chip shortage; Kona, Ioniq 5 production halted

Hyundai Motor shuts down plant due to chip shortage; Kona, Ioniq 5 production halted Photo by: Hyundai/Facebook Related Stories Hyundai Motors revealed this week that it was forced to suspend the operations of its plant in South Korea. The automaker has been mulling on halting its local production since last month, and it appears that the company could no longer ignore the chip shortage. As per The Korea Herald, the temporary closing of Hyundai Motor’s production plant actually raised a warning not just for the company but for its subcontractors and workers too. This is because the suspension means there will be no work for a given period.

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