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S. Korean government to boost investment into developing local chip materials Updated: 2019-07-03 13:18:07 KST

The South Korean government is planning to boost investment in the semiconductor industry to speed up the development of materials and parts.
That was decided Wednesday in a meeting of the ruling Democratic Party,. the government and the presidential office discussing economic policy for the second half of the year.
They said, by investing about 8-hundred-50 million U.S. dollars a year they want to improve the country's competitiveness in the sector.
That might be a welcome move with Japan now restricting its shipments of key materials to South Korea.
As for policies for the second half, they said the focus will be improving people's livelihoods, providing tax incentives to boost investment and measures to support the vulnerable.
They also called for lawmakers to swiftly pass the five.seven-billion-dollar extra budget bill, saying they plan to use 70-percent of it within the first two months of implementation.
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