Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
Quantum Systems Projects Revenue Surge as It Eyes IPO or Private Sale 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Amazon and Google Launch New Multicloud Networking Service to Boost High-Speed Cloud Connectivity 
YouTube Agrees to Follow Australia’s New Under-16 Social Media Ban 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
Samsung Launches Galaxy Z TriFold to Elevate Its Position in the Foldable Smartphone Market 
IKEA Expands U.S. Manufacturing Amid Rising Tariffs and Supply Chain Strategy Shift 
Airbus Faces Pressure After November Deliveries Dip Amid Industrial Setback 
TSMC Accuses Former Executive of Leaking Trade Secrets as Taiwan Prosecutors Launch Investigation 
Baidu Cuts Jobs as AI Competition and Ad Revenue Slump Intensify 
Coupang Apologizes After Massive Data Breach Affecting 33.7 Million Users 
USPS Expands Electric Vehicle Fleet as Nationwide Transition Accelerates 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
Anthropic Reportedly Taps Wilson Sonsini as It Prepares for a Potential 2026 IPO 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
South Korea's government, under Finance Minister Choi Sang-mok, announced a robust $7 billion support package aimed at propelling the country to the forefront of the global semiconductor industry.
Detailing the $7 Billion Support Package for Chip Industry
According to Reuters, South Korea's finance minister said on Sunday that the country is preparing a support package for chip investments and research worth more than 10 trillion won ($7.30 billion) after deciding to win a "war" in the semiconductor business.
Finance Minister Choi Sang-mok stated that the government would soon provide specifics of the package, which targets chip materials, equipment manufacturers, and fabless companies across the semiconductor supply chain.
According to a statement from the finance ministry, Choi told executives from local chip equipment companies at a conference that the program may involve policy loans and the establishment of a new fund backed by state and private financial institutions.
South Korea's Strategic Development of Yongin Mega Chip Cluster
South Korea is also developing a mega chip cluster in Yongin, south of Seoul, which it claims is the world's largest high-tech facility. With promises of investment tax breaks, President Yoon Suk Yeol has pledged to use all available means to win the "war" in chips.
According to the Semiconductor Industry Association (via Sammy Fans), the industry predicts a significant global semiconductor manufacturing landscape shift. By 2032, South Korea's semiconductor manufacturing is expected to outpace Taiwan's, positioning the country as the second-largest manufacturer globally.
Global Market Forecast: South Korea's Chip Industry by 2032
By 2032, South Korea's semiconductor output is expected to rise by 129%, according to the analysis. This is the second-highest growth rate behind the US (203%), while it is anticipated that China (86%), Japan (86%), Taiwan (97%), and Europe (124%), will all lag behind South Korea.
In 2032, South Korea's semiconductor output is anticipated to represent 19% of the worldwide semiconductor market. This is after China, which had 21%, but ahead of Taiwan, which had 17%, and the US, which had 14%. It increased by 2% from its 2022 share of 17%.
Photo: Microsoft Bing
