According to Yonhap News Agency, the new minister of South Korea’s Ministry of Industry, Moon Sung-wook, said during an inspection of IC design company Silicon Mitus, “In response to the shortage of automotive chip supply, South Korea plans to focus on expanding support for the 8-inch foundry industry. ."

Today, the shortage of automotive chips has become an important factor restricting the development of the automotive manufacturing industry. The shadow of "shortage of cores" gradually shrouded other industries, increasingly highlighting the key to chip manufacturing.

In order to cope with the shortage of global automotive chip supply and promote the development of the system semiconductor industry, the Korean government plans to expand investment and tax incentives in the semiconductor industry.

A few days ago, South Korean Finance Minister Hong Namki said that the South Korean government will expand the tax credit program around chip manufacturing, aiming to foster the system semiconductor manufacturing industry by supporting R&D and facility investment in related fields.

South Korea plays a very important role in the field of global storage semiconductors. It has the world’s largest storage chip giants Samsung Electronics and SK Hynix. The shipments of storage chips account for about 20% of South Korea’s total exports. However, in terms of system semiconductor technology, R&D is relatively lagging, so the South Korean government has decided to increase support.

It is reported that as competition in the global semiconductor industry heats up, the Korean government is formulating a series of response measures, which are expected to be included in the upcoming "K-semiconductor belt" strategy.