Samsung "Government's 'K-Semiconductor Strategy' Welcomed... Will Help Strengthen Industry Competitiveness"

President Moon Jae-in is speaking at the 'K-Semiconductor Strategy Report' held on the outdoor stage set up at the Samsung Electronics Pyeongtaek Complex Line 3 construction site in Pyeongtaek-si, Gyeonggi-do, on the afternoon of the 13th. [Image source=Yonhap News]

[Asia Economy Reporter Kim Heung-soon] Samsung Electronics welcomed the 'K-Semiconductor Strategy' announced by the government on the 13th, stating that it "will provide practical help in strengthening the competitiveness of the domestic semiconductor industry."

A Samsung Electronics official emphasized right after the government announcement, "'K-Semiconductor Strategy' is expected to serve as a 'foundation' for the domestic semiconductor industry to enhance its global competitiveness. It encompasses measures across various fields."

On the same day, the government held the 'K-Semiconductor Strategy Report Meeting' at Samsung Electronics' Pyeongtaek Campus, attended by President Moon Jae-in, and announced a strategy to realize a comprehensive semiconductor powerhouse. The core points include establishing the world's largest semiconductor supply chain domestically by 2030, providing tax credits of up to 40-50% for companies' R&D investments in core semiconductor strategic technologies, and 10-20% tax credits for investments in national core technologies and related facilities. It also includes plans to train 36,000 semiconductor industry personnel over the next decade. In the private sector, major domestic semiconductor companies such as Samsung Electronics and SK Hynix have pledged to invest 510 trillion won over 10 years to support this effort.

Samsung Electronics positively evaluated the fact that the public and private sectors have created an opportunity to respond together as 'partners' to strengthen the domestic supply chain amid fierce competition in the global semiconductor industry. A Samsung Electronics official said, "Only by moving forward together as partners between the public and private sectors, as we are doing now, can we overcome the great waves sweeping through the global semiconductor industry."

Samsung Electronics also announced plans to invest 171 trillion won in the system semiconductor sector by 2030 to ensure the government's K-Semiconductor Strategy is implemented as planned. This amount is 38 trillion won more than the 133 trillion won investment in system semiconductors by 2030 declared in the 'System Semiconductor Vision 2030' announced in April 2019 with President Moon in attendance.

Kim Ki-nam, Vice Chairman of Samsung Electronics' Device Solutions (DS) Division, emphasized, "South Korea's semiconductor industry now stands at a great turning point, and amid this major upheaval, it is time to draw a long-term vision and investment blueprint. Although the challenges we face are significant, we will boldly move beyond the present toward the future."

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