Yang Hyang-ja "Propose Ultra-Exceptional Semiconductor Special Act by August"

29th, 2nd Meeting of Semiconductor Special Committee
Collecting Amendable Enforcement Decrees in May to Propose Relaxation to President Moon in June

[Asia Economy Reporter Oh Ju-yeon] Yang Hyang-ja, Chairperson of the Semiconductor Technology Special Committee, announced on the 29th that she plans to propose the 'Semiconductor Special Act' containing unprecedented support measures by August.

During the opening remarks at the 2nd meeting of the Semiconductor Special Committee held at the National Assembly Members' Office Building that morning, Chairperson Yang emphasized once again, "We will not fall behind in the semiconductor speed race."

The Semiconductor Special Committee, launched on the 23rd, has focused on communicating with semiconductor industry stakeholders over the past week to listen to voices from the field. In particular, Chairperson Yang paid attention to the crisis in the semiconductor industry and the shortage of talent.

She pointed out, "The 4th Industrial Revolution is essentially semiconductors," and stated, "The current shortage of automotive semiconductors is just the tip of the iceberg." Given the explosive increase in semiconductor demand across the board, including artificial intelligence, the Internet of Things, autonomous vehicles, remote medical care, and biohealth, Chairperson Yang believes that the semiconductor hegemony competition should be treated as a national task.

Chairperson Yang said, "We will collect all the enforcement ordinances that can be changed immediately by May and aim to propose relaxations to the President by June at the latest."

She also reiterated the necessity of nurturing talent. She diagnosed, "The current (semiconductor) profits are the result of 30 years of investment and effort," and added, "We have not sufficiently nurtured semiconductor talent to lead the next 30 years." She continued, "The technological prowess of semiconductors is determined by the level of talent," and said, "The Special Committee will take all possible measures to ensure that the government's plan to cultivate high-level semiconductor talent can be realized early."

Chairperson Yang requested bipartisan cooperation from opposition lawmakers, saying, "There can be no difference between ruling and opposition parties in the goal of gaining the upper hand in the semiconductor battle." Receiving a report from the Ministry of Trade, Industry and Energy on the government's ongoing K-semiconductor strategy and overall domestic semiconductor industry issues, Chairperson Yang stated, "The K-semiconductor belt strategy is the starting point," and added, "We will put all our efforts at the National Assembly level into swiftly implementing good measures."

This content was produced with the assistance of AI translation services.