South Korea will begin providing 14 trillion won ($10 billion) in low-interest loans next year to support its semiconductor industry, according to the S. Korean Ministry of Finance.
State-run banks will handle the loans; 1.8 trillion won will be used to finance new semiconductor manufacturing complicated electrical transmission lines.
Aiming at improving local semiconductor production, the proposal adopts a larger 26 trillion won ($19 billion) package announced in June. That scheme calls for creating two funds totaling 1.1 trillion won and extending tax benefits to qualified businesses.
Leading worldwide in memory chip manufacture, South Korea's semiconductor sector is centered on SK Hynix and Samsung Electronics (SSNLF, Financials). This recent action is in line with initiatives by other nations, including the United States, China, Japan, and the European Union, to support home semiconductor production in the face of growing artificial intelligence and advanced technology competi
State-run banks will handle the loans; 1.8 trillion won will be used to finance new semiconductor manufacturing complicated electrical transmission lines.
Aiming at improving local semiconductor production, the proposal adopts a larger 26 trillion won ($19 billion) package announced in June. That scheme calls for creating two funds totaling 1.1 trillion won and extending tax benefits to qualified businesses.
Leading worldwide in memory chip manufacture, South Korea's semiconductor sector is centered on SK Hynix and Samsung Electronics (SSNLF, Financials). This recent action is in line with initiatives by other nations, including the United States, China, Japan, and the European Union, to support home semiconductor production in the face of growing artificial intelligence and advanced technology competi
27 days ago
