2024-05-23 05:51:21
President Yoon Seok-yeol ordered, “Set up a 26 trillion received ‘complete semiconductor trade assist program’ that encompasses finance, infrastructure, analysis and growth (R&D), in addition to assist for small and medium-sized firms.”
Based on Information 1, President Yoon presided over the 2nd financial difficulty evaluation assembly on the Yongsan Presidential Workplace this morning and mentioned, “The federal government should present stable assist by offering assist for semiconductors that don’t lag behind opponents.”
President Yoon mentioned, “We’ll set up a brand new semiconductor monetary assist program price 17 trillion received on the Korea Improvement Financial institution,” and mentioned that we’ll assist firms’ funding in amenities reminiscent of new manufacturing facility building and line enlargement.
He continued, “Tax credit aren’t any totally different from subsidies as the federal government refunds a sure proportion of R&D and facility funding,” and added, “We’ll lengthen the tax credit score, which expires this yr, to make sure that firms don’t face difficulties in R&D and facility funding.” did.
President Yoon mentioned, “We may even velocity up the creation of a semiconductor mega cluster,” and added, “Specifically, the federal government and public sector might be answerable for creating infrastructure reminiscent of electrical energy, water, and roads at a fast tempo.”
He added, “I hope that we’ll strengthen consultations with the Nationwide Meeting in order that the Nationwide Energy Grid Particular Act, which considerably shortens the development interval for transmission strains, may be shortly handed by the Nationwide Meeting.”
President Yoon defined that he would create a semiconductor ecosystem fund price 1 trillion received to assist the expansion of promising fabless (firms specializing in semiconductor design) and subsidiaries (supplies, parts, and gear) firms.
In response to the opposition social gathering criticizing the federal government’s assist for the semiconductor trade as ‘tax cuts for giant firms and tax cuts for the wealthy,’ President Yoon mentioned, “The semiconductor trade is a very powerful and certain basis for enriching our individuals’s lives and leapfrogging our economic system.” He emphasised, “Greater than 70% of the great assist packages for the semiconductor trade will profit small and medium-sized firms.”
He continued, “I hope that every ministry will take meticulous care to make sure that the great semiconductor assist program proceeds with no hitch, and that the minister, whatever the ruling or opposition events, will go to the Nationwide Meeting to elucidate and talk about till the brink is exhausted.”
President Yoon additionally ordered strengthening the competitiveness of system semiconductors.
President Yoon mentioned, “The market share of our fabless trade stays at 1%, and foundries (consignment manufacturing) that manufacture system semiconductors are additionally unable to slim the hole with TSMC and main firms,” and urged the Ministry of Commerce, Business and Power to work with associated ministries and businesses to strengthen the competitiveness of system semiconductors. “I hope they give you a groundbreaking plan,” he mentioned.
At a semiconductor difficulty evaluation assembly on the ninth of final month, President Yoon ordered the preparation of a daring incentive coverage to assist the semiconductor trade, and after discussions amongst associated ministries, a complete assist plan was launched that day.
Reporter Kim Jeong-hyun photograph supplied by the Presidential Workplace
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2024-05-23 05:51:21