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 $50 billion in
semiconductor manufacturing and research.
Some 153 chip companies including global No.1 and 2 memory
chip makers Samsung Electronics and SK Hynix already have plans to invest a
combined 510 trillion won or more between this year and 2030, according to the
Korea Semiconductor Industry Association.
"As semiconductor competition intensifies around the
world, it is clear that we also need to increase our competitiveness in the
semiconductor industry," South Korean President Moon Jae-in said earlier
this week.
Samsung said on Thursday it would invest 171 trillion won
($151.10 billion) in non-memory chips through 2030, raising its previous
investment target of 133 trillion won announced in 2019. It added that its
third chip production line at Pyeongtaek, south of Seoul, will be completed in
the second half of 2022.
SK Hynix said it is considering doubling 8-inch chip
contract manufacturing capacity from a small base, adding that no final decision
has been made.
The government will increase tax breaks to 6% from the
current 3% or lower for capital expenditures between the second half of 2021 to
2024 for large corporations conducting "key strategic technology"
including semiconductors, the ministry said in a statement.
The government will also offer about 1 trillion won in
long-term loans for increasing 8-inch wafer chip contract manufacturing
capacity and investment for materials and packaging.
Samsung Electronics, Hyundai Motor, the ministry and
industry associations also agreed to join efforts to respond to the shortage of
auto chips on Thursday, the presidential office said in its statement without
providing any details.
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