South Korea allocates $19 billion to bolster chip industry, targeting 10% global market share in non-memory chips. Amid fierce global semiconductor competition, the plan includes a 26 trillion won ($19.1 billion) support package for financial, infrastructural, and R&D assistance to small and medium-sized companies. Goal: Enhance competitiveness in products like mobile processors, vital for smartphones, laptops, and servers.
Key Highlights:
- South Korea unveils a $19 billion support package for its chip industry.
- Ambitious goal: Elevate global market share in non-memory chips to 10% from current 2%.
- Comprehensive 26 trillion won ($19.1 billion) support plan encompasses financial, infrastructure, research and development, and support for small and medium-sized companies.
- Nation hosts top memory chipmakers Samsung Electronics and SK hynix.
- Commitment to construct world's largest chip center utilizing $456 billion in private investment.
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