South Korea eyes US$10bil in support for chipmakers in 2025

The government also plans to cover “a significant share” of the 1.8 trillion won needed to bury power cables underground in chipmaking clusters south of Seoul. — Reuters

SEOUL: South Korea plans to bolster its financial support for domestic chipmakers next year, shoring up an industry that may face unfavourable policies from the incoming Trump administration and more intense challenges from Chinese rivals.

Financial support made up of loans, insurances and guarantees from state-affiliated organisations is set to amount to 14.3 trillion won (US$10.2bil) next year in an elevation of continued policy stimulus, the Finance Ministry said yesterday.