South Korea allocates a record amount for production of microchips

15:11 - 24.05.2024

May 24, Fineko/ South Korea announced on Thursday a record 26 trillion won ($19 billion) support package for its chip manufacturing business.

ABC.AZ reports that President Yoon Seok-yeol said that a financial support program worth about 17 trillion wons ($12.5 billion) is planned through the state development bank.

"As we all know, semiconductors are an area in which there is an all–out national war. Victory or defeat depends on who can be the first to create advanced semiconductors," the South Korean president said.