Lee Chang-yang: "Next Year, Semiconductor Specialized Complex Designation... Will Foster Innovation Cluster"

'15th Semiconductor Day Ceremony'
"Turning Crisis into an Opportunity for a New Leap"

Minister Lee Chang-yang of the Ministry of Trade, Industry and Energy is speaking at the signing ceremony of the win-win agreement for the activation of eco-friendly biofuels and the industry meeting held on the 13th at the Press Center in Jung-gu, Seoul. Photo by Moon Ho-nam munonam@

[Asia Economy Sejong=Reporter Dongwoo Lee] Lee Chang-yang, Minister of Trade, Industry and Energy, announced on the 27th, "Next year, we will designate a semiconductor specialized complex and foster it into a global innovation cluster through special permits and incentives."

At the '15th Semiconductor Day Commemoration Ceremony' held at the InterContinental COEX in Gangnam, Seoul, Minister Lee said, "To turn the crisis into an opportunity for a leap forward, we hope companies will steadily proceed with the planned investment of 340 trillion won by 2026."

He added, "The government will also strive for legislation to expand incentives for corporate investment" and "We will spare no effort to secure the necessary budget."

Minister Lee reiterated, "We will soon hold the Advanced Strategic Industry Committee to designate strategic technologies for advanced industries such as semiconductors, and next year, designate a semiconductor specialized complex to foster it as a global innovation cluster."

Earlier that day, at the 11th Emergency Economic and Livelihood Meeting chaired by President Yoon Suk-yeol, he stated, "The semiconductor industry is the backbone and core industry of our exports," and "Although it is currently in a downturn, it can rather be seen as an opportunity for us."

Semiconductor Day is an event held since 2008 to commemorate October 29, 1994, when semiconductor exports reached 10 billion dollars. This year marks the 15th anniversary. The semiconductor industry has maintained the global second place for nine consecutive years and has become a major industry in Korea, accounting for 20% of total exports and 17% of manufacturing value added.

Meanwhile, at the ceremony, 83 contributors who elevated the status of the Korean semiconductor industry were awarded. The highest honor, the Gold Tower Order of Industrial Service Merit, was awarded to Lee Yong-han, Chairman of Wonik, who contributed to the localization of materials, parts, and equipment through the development of semiconductor front-end equipment technology such as deposition equipment.

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