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South Korea prepares support package worth over $7 billion for chip industry

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SEOUL : South Korea is readying plans for a support package for chip investments and research worth more than 10 trillion won ($7.30 billion), the finance minister said on Sunday, after setting its sights on winning a "war" in the semiconductor industry.

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.

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