Home ยป South Korea Announces $700 Billion Chip Investment Support Plan

South Korea Announces $700 Billion Chip Investment Support Plan

South Korea has unveiled a plan to support chip manufacturers and suppliers with a budget of 26 trillion won, approximately 700 billion baht. This initiative aims to boost investment in semiconductor sectors within the country, primarily focusing on tax benefits to enhance competitiveness in the chip industry. Currently, there is intense competition to attract investment.

Previously, major chip manufacturers in South Korea such as SK Hynix and Samsung have announced plans to build additional factories in the country. Samsung, in particular, has recently received investment incentives from the United States government to establish a chip production plant in Texas. The US government has also released a support plan to attract major chip manufacturers, including TSMC.

Source: The Wall Street Journal

TLDR: South Korea is investing heavily in supporting chip manufacturers and suppliers to boost the semiconductor industry and competition, with major companies like SK Hynix and Samsung expanding their operations, and Samsung receiving support from the US government for a new plant in Texas.

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