Korea International Radio reported on August 4 that South Korea's "National Advanced Strategic Industry Law" was officially implemented on the 4th. The law designates industrial technologies such as semiconductors as national cutting-edge strategic technologies and strengthens support.

It is understood that the "Special Measures Law on Strengthening and Protecting the Competitiveness of National Advanced Strategic Industries" ("National Advanced Strategic Industries Law"), known as the "Semiconductor Special Act", was officially implemented on August 4. The law will significantly strengthen support for investment by companies in strategic industries such as semiconductors by designating characteristic parks, supporting infrastructure, and relaxing core regulations.

After being designated as a characteristic park, approval matters will be processed within 45-90 days, and infrastructure costs such as roads, gas, water, electricity, collective energy supply equipment, waste and wastewater treatment facilities will also be supported. In addition, if companies belonging to the national advanced strategic industries apply for improvement of regulations, the relevant departments must conduct discussions within 15 days and inform the results.

In order to support the cultivation of professional talents, the government will designate characteristic universities and graduate schools, open educational programs for strategic industries, and consider expanding the enrollment scale of related majors. The government will also bear part of the enterprise-sharing fees and student tuition fees for industry-academia projects. In the process of promoting national research and development projects, priority should be given to technology research and development projects related to national cutting-edge strategic industries. In addition, the government will set up the National Cutting-edge Strategic Industry Committee, led by the Prime Minister, as the highest decision-making body for strategic industrial policy.

As the core of the information industry, the semiconductor industry is known as the key force leading a new round of technological revolution and industrial transformation. In addition, after the outbreak of the new crown pneumonia epidemic, the global cross-border supply chain has been seriously hindered, and various countries have exposed the shortage of integrated circuit products to varying degrees. Maintaining the security and controllability of the industrial chain and supply chain has become an important logic in the industrial policies of various countries. In 2021, the world is dealing with the problem of "lack of cores", and all countries realize that if they do not pay more attention to the integrated circuit industry, it may affect all aspects of the people's livelihood economy.

However, from a long-term perspective, although the support policies of various countries cannot easily solve the current problems in the industrial chain and supply chain, the frequency of such intensive policies will inevitably have an important impact on the global semiconductor industry ecology.