May 23, 2024 7:34 PM

South Korea unveils $19 bln package to compete in global chip ‘warfare’

South Korea announced on Thursday (May 23) a 26 trillion won ($19 billion) support package for its chip businesses, citing a need to keep up in areas like chip design and contract manufacturing amid 'all-out warfare' in the global semiconductor market. Earlier in the day, South Korea's President Yoon Suk Yeol held a meeting and said that a financial support programme worth about 17 trillion won ($12.5 billion) is planned through state-run Korea Development Bank to back investments by semiconduc...