South Korea to establish office to coordinate chip investments — Korea Herald
South Korea will launch a dedicated office for semiconductor policy next week. It is intended to accelerate major investments in chip manufacturing and strengthen the industry's competitiveness amid competition among the United States, China and Japan for advanced chips, Korea Herald reports.
Investment coordination
A director-general-level office will be established within the Ministry of Trade, Industry and Energy. The Cabinet approved the reorganization on Tuesday. The new body will be responsible for semiconductor policy, coordinating large-scale investments and implementing a new law supporting the industry.
One priority will be supporting manufacturing clusters in which Samsung Electronics and SK hynix are expected to invest a combined 800 trillion won, or about $595.5 billion. These facilities will be located in the Seoul metropolitan region and in the country's southwest.
Infrastructure and law
The office, provisionally named the Semiconductor Industry Innovation and Growth Support Office, will bring together three divisions. They will handle chip policy, the competitiveness of advanced semiconductors, and supply chains for materials, components and equipment.
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The body will also coordinate the development of infrastructure for large semiconductor complexes, including electricity and water supply, transport and environmental permits, which can delay construction and the start of production. Special attention will be given to a planned cluster in southwestern South Korea, intended to diversify production beyond traditional hubs near Seoul.
The office will monitor the implementation of the special law on strengthening and supporting the competitiveness of the semiconductor industry. In particular, it will prepare a national competitiveness strategy, ensure the operation of a high-level committee and designate strategic semiconductor clusters. The legislation provides a basis for investment incentives, infrastructure projects, research, workforce training and supply-chain security.
Industry Minister Kim Jong-gwan said semiconductors are an important supply link for all industries, including artificial intelligence, automotive manufacturing and home appliance production. According to him, the new office will support corporate investment and technological innovation.
