SEOUL - South Korea is readying plans for a support package for chip investments and research worth more than 10 trillion won , the finance minister said on Sunday, after setting its sights on winning a "war" in the semiconductor industry.
The program could include offers of policy loans and the setting-up of a new fund financed by state and private financial institutions, Choi told executives of domestic chip equipment makers at a meeting, the finance ministry said in a statement. President Yoon Suk Yeol has vowed to pour all possible resources into winning the "war" in chips, promising tax benefits for investments.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.