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S.Korea President Announces Record $19bn Plan To Boost Chip Industry

Yoon Suk Yeol Semiconductor South Korea Seoul

President Yoon Suk Yeol said the government would extend tax benefits for chip investment as it looks to boost jobs and attract more talent to the industry (Credit: AFP)

South Korean President Yoon Suk Yeol on Thursday announced a record $19-billion-dollar support plan for the country's crucial semiconductor industry.

South Korea is home to the world's top memory chipmakers Samsung Electronics and SK hynix and last year pledged to build the world's largest chip center using $456 billion of private investment as it seeks an edge in the global industry.

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