By Kyu-seok Shim and Heejin Kim
SEOUL, Aug 10 (Reuters) - South Korea will launch a 5 trillion won ($3.52 billion) semiconductor fund targeting promising chip materials, parts, equipment and fabless companies, a presidential official said, as Seoul seeks to accelerate plans for new chip manufacturing hubs across the country.
The government will also provide a further 5 trillion won in trade finance for suppliers, Presidential Chief of Staff Kang Hoon-sik told a press briefing after a meeting chaired by President Lee Jae Myung on Monday.
The measures are part of Lee's semiconductor megaproject initiative unveiled in June, under which Samsung Electronics and SK Hynix, together with suppliers and local governments, are expected to invest more than $576 billion in new chip manufacturing projects, including major fabrication facilities in the country's southwest region.
"The government will create a new semiconductor fund worth about 5 trillion won focused on promising materials, parts and equipment firms and fabless companies," Kang said.
#semiconductor #kang #billion
SEOUL, Aug 10 (Reuters) - South Korea will launch a 5 trillion won ($3.52 billion) semiconductor fund targeting promising chip materials, parts, equipment and fabless companies, a presidential official said, as Seoul seeks to accelerate plans for new chip manufacturing hubs across the country.
The government will also provide a further 5 trillion won in trade finance for suppliers, Presidential Chief of Staff Kang Hoon-sik told a press briefing after a meeting chaired by President Lee Jae Myung on Monday.
The measures are part of Lee's semiconductor megaproject initiative unveiled in June, under which Samsung Electronics and SK Hynix, together with suppliers and local governments, are expected to invest more than $576 billion in new chip manufacturing projects, including major fabrication facilities in the country's southwest region.
"The government will create a new semiconductor fund worth about 5 trillion won focused on promising materials, parts and equipment firms and fabless companies," Kang said.
#semiconductor #kang #billion
3 months ago
