[Reporter’s Notebook] President and Business Leader "Put Their Lives on the Line" for Semiconductors

[Asia Economy Reporter Ki-min Lee] "Put your life on the line for science and technology."

On the 7th, President Yoon Suk-yeol held a special lecture on semiconductors at the Cabinet meeting and told the cabinet members to study the semiconductor industry, which is the "future food source."

Semiconductors, accounting for 20% of Korea's export volume, have the potential to change the landscape of future technological wars and security, and President Yoon personally declared the government's determination to pour all its capabilities into this sector. He instructed the Ministry of Education to completely reform education policies to practically nurture semiconductor talent. In particular, he demanded that cabinet members from ministries not directly related to semiconductors, such as Minister of Justice Han Dong-hoon and Minister of Government Legislation Lee Wan-gyu, also study semiconductors.

This coincidentally recalls last month’s statement by Samsung Electronics Vice Chairman Lee Jae-yong, who said he would "put his life on the line and invest" in the semiconductor business. Samsung Electronics announced a 450 trillion won investment plan last month, and Lee’s remark was interpreted as a sign of fierce survival competition in the global market. On the day President Yoon made his remarks, Lee Jae-yong departed for the Netherlands, where ASML’s headquarters?the semiconductor equipment company?is located, to secure extreme ultraviolet (EUV) lithography equipment.

The "life" statements from these two representatives of the nation and business world are close to an appeal that the scale and economic security position of the semiconductor industry have become increasingly important since COVID-19, and that if all capabilities are not concentrated now, it will be difficult to guarantee the future. U.S. President Joe Biden also emphasized that the semiconductor industry is the battleground of U.S.-China competition by holding a wafer at the White House, and when he visited Korea, he first visited Samsung Electronics’ Pyeongtaek semiconductor campus.

The common voice of the president and the head of the semiconductor company must not end as a hollow echo. While the previous government made moderate efforts to foster the semiconductor industry, competing countries like Taiwan focused their investments on semiconductor development, widening the gap with us in foundry market share. In fact, the situation remains a crisis even today. This directive from President Yoon should serve as an opportunity for heads of departments and bureaus in each government ministry to reconsider their habitual hesitation toward investment and regulatory measures.

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