The government announced plans to inject over $7 billion into the semiconductor sector to support its growth as well as boost venture investment to revive fishing villages.
Korea will claim 19 percent of the world's chip production by 2023, second only to China.
Samsung Electronics reportedly intends to more than double its original investment plan to $44 billion in a chip manufacturing facility in Taylor, Texas.
Korea reported a current account surplus for 10th straight month in February, driven by recovery of chip exports.
Korea's exports rose in March on strong chip demand, with a slight trade surplus, despite a drop in imports.
Korea’s industrial output rose for the fourth straight month in February on the back of the recovery of the semiconductor industry.
President Yoon Suk Yeol promised to invest around 500 trillion won ($372.86 billion) in Yongin to make the city a global chips production base as part of a larger project to build a semiconductor mega cluster in southern Gyeonggi on Monday.
The global strategies and visions of Korea’s chip industry leaders are more important than ever.
Korea’s exports lifted 4.8 percent in February, rising for the fifth straight month on the recovery of chips.
Korea JoongAng Daily Sitemap