President Yoon: "Semiconductors Are the Rice of Industry... Our Survival Depends on Them"

Lunch with the Special Committee on Strengthening Semiconductor Industry Competitiveness... Attention on Democratic Party Member Yang Hyang-ja's Attendance

President Yoon Suk-yeol had lunch with the People Power Party's Semiconductor Industry Competitiveness Enhancement Special Committee on the 14th at the Presidential Office in Yongsan, Seoul.

[Asia Economy Reporter Baek Kyunghwan] President Yoon Suk-yeol said on the 14th, "Semiconductors are the rice of the industry," adding, "Because it is an important field in the 4th Industrial Revolution, our survival depends on it." The semiconductor industry is considered a key national agenda of the Yoon Suk-yeol administration.

President Yoon made these remarks during a luncheon hosted by the People Power Party's Special Committee for Strengthening Semiconductor Industry Competitiveness held at the Yongsan Presidential Office. He said, "As president, I am always preparing for the future food sources of the people, and (semiconductors) are not just a long-term task. I think it is an urgent issue that must be addressed in real time."

The luncheon was attended by President Yoon, Chief Secretary for Economic Affairs Choi Sang-mok, Special Committee Chairperson Yang Hyang-ja, Vice Chairperson Song Seok-jun, People Power Party lawmakers Kim Young-sik, Yang Geum-hee, Yoon Joo-kyung, and Cho Myung-hee, Seoul National University professors Jung Deok-gyun and Hwang Cheol-seong, Sungkyunkwan University professor Kim Yong-sung, Samsung Display Senior Advisor Park Dong-geon, and Korea Semiconductor Industry Association Executive Director Ahn Ki-hyun.

In particular, President Yoon expressed gratitude, saying, "The ruling party has formed a special committee to strengthen semiconductor competitiveness. Chairperson Yang Hyang-ja, who has extensive experience at Samsung Electronics, leads the committee, and members with engineering backgrounds from the party, as well as distinguished scholars and experts, are participating. I am truly thankful." He continued, "To develop the semiconductor industry, we must nurture excellent talent not only in semiconductors but also in related fields, ensure a supply of skilled personnel, and while companies invest, the government must also proactively prepare and make active investments."

Fostering the semiconductor industry is a core national agenda of the Yoon administration. President Yoon has planned special lectures on semiconductors at Cabinet meetings and showcased the Pyeongtaek Samsung Electronics semiconductor campus to U.S. President Joe Biden during his visit in May. In July, the government announced a comprehensive 'Semiconductor Talent Development Plan,' and at the 100-day press conference in August, President Yoon emphasized the importance of nurturing semiconductor talent, stating, "We will prioritize talent supply policies by expanding enrollment in related universities and graduate schools and strengthening private sector cooperation to cultivate 150,000 core semiconductor professionals."

The special committee was launched at the end of June and held several meetings until early August, during which it proposed the 'K-Chips Act' (Semiconductor Special Act). The committee plans to establish a permanent special committee at the National Assembly level beyond the ruling party starting in the second half of the year to prepare for the leap forward of Korea's semiconductor industry.

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