South Korea on Thursday announced bigger tax breaks plus 1 trillion won in loans for the local chip industry as it navigates a challenging operating environment amid a global chip shortage.
Many countries are working to bolster local chip supply chains as the severe shortage affects production in industries such as autos, and in March U.S. President Joe Biden flagged plans to invest US$50 billion in semiconductor manufacturing and research.Some 153 chip companies including global No.
Current investments at home include Samsung's planned third chip plant in Pyeongtaek, south of Seoul, which began site preparation last year and is expected to be completed in 2022, a Pyeongtaek city official said.
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