Chinese
2024-05-23
Korea Announces $19bn Semi Support Fund

Earlier today Korea announced a $19 billion semiconductor support package.

Korean president Yoon Suk Yeol (pictured) said that the money  was designed to support large-scale investments by Korean chip-makers.

The funds will be disbursed by the Korea Development Bank.

A fund worth $733 million has been set up to support equipment vendors and fabless companies.

Yoon  said that the country’s non-memory chip makers needed to increase their competitiveness and instructed the Ministry for Industry to come up with ideas how it could be achieved.


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