South Korea announced on April 15 that it would increase its support package for its key semiconductor industry to 33 trillion won ($23.25 billion), up about a quarter from the 26 trillion won ($18.26 billion) package announced last year.
South Korea announces $23 billion support package for semiconductor industry.
The government said the measures were in response to calls for expanded support amid growing policy uncertainty under the current US administration, as well as increased competition from Chinese rivals.
Seoul will also boost its financial support program for the chip industry to 20 trillion won ($14.06 billion), from the previous 17 trillion won ($11.94 billion), according to a joint statement from several ministries, including the Trade Ministry.
South Korea's semiconductor exports were expected to reach $141.9 billion in 2024, accounting for 21 percent of the country's total exports, government data showed. Exports to China and the United States were expected to reach $46.6 billion and $10.7 billion, respectively.
US President Donald Trump said on Sunday (April 13) that he will announce tariffs on imported semiconductors next week, while also saying there will be flexibility for some companies in the sector.
Khanh Huyen (Source: Reuters)
Source: https://vtcnews.vn/han-quoc-cong-bo-goi-ho-tro-23-ty-usd-cho-nganh-ban-dan-ar937758.html
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