Jang Young-jin, First Vice Minister of Industry, Visits Semiconductor Exhibition to Emphasize SoBuJang Support

Attending the Semiconductor Equipment and Materials International Exhibition 'SEMICON Korea 2023'

[Image source=Yonhap News]

[Asia Economy Reporter Sunmi Park] On the 1st, Jang Young-jin, Vice Minister of the Ministry of Trade, Industry and Energy, attended the 'Semicon Korea 2023 Industry Leadership Dinner' held at the Grand InterContinental Seoul Parnas and emphasized support for semiconductor materials, parts, and equipment (SoBuJang) companies.

Semicon Korea is the largest domestic international exhibition for semiconductor equipment and materials hosted by the Semiconductor Equipment and Materials International (SEMI). It provides semiconductor SoBuJang companies with global marketing opportunities and the latest technology and market information.

In his congratulatory speech, Vice Minister Jang stated, "This year, due to the global economic downturn, contraction in exports and investment, rising protectionism, and ongoing energy crises, IT demand, which is sensitive to macroeconomic fluctuations, is decreasing, and uncertainty in the semiconductor industry and its downstream SoBuJang sectors is expected to continue." He added, "In this severe economic situation, it is more necessary than ever for the government and companies to unite as one team and pool all capabilities to overcome the crisis."

Vice Minister Jang mentioned that the government will fully support achieving export growth through policy financing investment (530 billion KRW) in vulnerable areas of the semiconductor ecosystem such as semiconductor SoBuJang, establishment of a semiconductor fund (about 300 billion KRW), promotion of infrastructure projects ('Mini Fab') to support technology demonstration linked with demand companies, and workforce development through the operation of the 'Semiconductor Academy.' He emphasized that in the mid-to-long term, "we will support the development of future strategic technologies for semiconductor SoBuJang to strengthen the global competitiveness of our companies."

At the 'Industry Leadership Dinner' held that day, more than 400 people, including Ajit Manocha, President of SEMI, Kwak No-jung, Chairman of the Korea Semiconductor Industry Association, and representatives and executives of global semiconductor companies, gathered to communicate and network.

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