Hong Nam-gi: "Vehicle Semiconductor Shortage Causes Production Disruption Over 100,000 Units... Significant Expansion of R&D"

Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki attended a meeting related to semiconductor talent development held at the Engineering Building of Yonsei University in Seodaemun-gu, Seoul, on the afternoon of the 18th, where he held discussions with undergraduate and graduate students majoring in semiconductors at Yonsei University. On the left is Minister of Trade, Industry and Energy Moon Seung-wook.
[Photo by Yonhap News]

[Sejong=Asia Economy Reporter Son Seon-hee] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, stated on the 18th, "Due to the shortage of automotive semiconductors, the cumulative production shortfall of completed vehicles has exceeded 100,000 units," and added, "We will significantly expand research and development (R&D) for semiconductor self-reliance in the medium to long term."

On the same day, Hong presided over the 16th Innovation Growth BIG 3 Promotion Meeting at Yonsei University College of Engineering in Seoul, saying, "We will focus on fostering the domestic automotive semiconductor industry through the establishment of a national roadmap for automotive semiconductors." He emphasized that although urgent short-term supply responses have been supported through expedited customs clearance, negotiation support, and identification of alternative items, ultimately, a medium-term strategy is necessary.

Hong said, "Since securing and strengthening semiconductor manufacturing capabilities involves major issues such as permits and regulatory problems, we will handle and respond to these as quickly as possible." He added, "The land contract issue for the EUV Center to establish the Hwaseong EUV Cluster was recently finalized, and consultations on permits for the use of infrastructure such as rivers and roads in the Yongin Cluster are planned to be completed within this year. We will also complete regulatory relaxation tasks as soon as possible."

Support for small and medium fabless companies in system semiconductors will also be strengthened. Hong stated, "The fabless sector is suitable for venture companies due to its high added value and R&D proportion, but the foundation for settling is weak due to initial cost burdens and lack of foundry linkage." He added, "We will establish a customized support system covering the entire cycle of 'entry-production-sales channels' to nurture a 10% share of the global market, 300 fabless companies, and 5 unicorn companies by 2030."

Furthermore, regarding semiconductor R&D, the government announced plans to establish a "Semiconductor R&D Mid- to Long-Term Investment Strategy and Technology Development Roadmap" that will present investment directions for the next 10 years.

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