South Korea unveils $19 billion package to compete in global chip 'warfare'
SEOUL -South Korea announced on Thursday a 26 trillion won 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.
The package is bigger than plans flagged by the country's finance minister Choi Sang-mok earlier this month, when he said the government was targeting support for chip investments and research worth more than 10 trillion won. "The government is apparently trying to follow the trend where other countries are giving out subsidies for their own chip companies," said Greg Roh, head of research at Hyundai Motor (OTC:
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