South Korea Plans $7.3 Billion Program to Support Chip Industry
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South Korea is preparing a program to provide more than 10 trillion won ($7.3 billion) to strengthen the country’s pivotal semiconductor industry, Finance Minister Choi Sang-mok said.
Choi, in a meeting Friday with local manufacturers of chip materials, parts and equipment, said the government is considering ways to fund the program to support the industry, the finance ministry said in a statement on Sunday. Among the options are policy financing from state-owned Korea Development Bank or a joint fund from public, private and policy financing. Details will be announced soon, said Choi, who is also the nation’s deputy prime minister.