US plans $75 million grant to Absolics for advanced chip packaging

FILE PHOTO: FILE PHOTO: Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo/File Photo

WASHINGTON (Reuters) - The US Commerce Department said on Thursday it plans to grant $75 million to Absolics for constructing a 120,000-square-foot facility in Georgia that will supply advanced materials to the country's semiconductor industry.

The planned award to the semiconductor packaging provider, an affliate of SKC Co, which in turn is part of South Korea's second-largest conglomerate SK Group, is to come from the U.S. government's $52.7 billion U.S. semiconductor chips manufacturing and subsidy fund.