Korea Semiconductor Industry Association said South Korea’s chipmakers will make expand their domestic investment this year to more than 56.7 trillion won (+10 percent) or $47.36 billion.
The proposed investment in the South Korean semiconductor industry represents a 10 percent increase from 51.6 trillion won they invested last year, according to the Ministry of Trade, Industry and Energy.
The ministry said that large chipmakers plan to spend 53.6 trillion won in 2022, and smaller firms in the fabless and other system semiconductor field will make an investment of 1.3 trillion won.
It also vowed to increase the entrance quota at colleges with degrees in semiconductors to 700 this year and to operate new education programs to nurture 1,200 experts in the field every year, reports Yonhap news agency.
Lee Jeong-bae, Korea Semiconductor Industry Association, met Industry Minister Moon Sung-wook on Wednesday and demanded the government to extend tax cuts and other various incentives and speed up deregulation. Lee Jeong-bae is also the head of Samsung’s memory business division.
