President Moon Jae-in pledged to put South Korea at the center of the global semiconductor supply chain by establishing the world's best semiconductor cluster.
He visited Pyeongtaek on Thursday to be briefed by companies on their investment plans and by the government on their strategies to make South Korea a semiconductor powerhouse.
Speaking at the country's main chip production base in Pyeongtaek, President Moon promised to give chipmakers tax incentives and state support.
"We will solidify our number one position in memory chips and become the world's best in system semiconductors to achieve our goal of becoming a semiconductor powerhouse by 2030."
The government will continue to fully support the training of skilled workers and the development of techology, and will provide incentives to companies through a special tax system.
Major chipmakers such as Samsung Electronics and SK hynix announced their plans to invest more than 450 billion U.S. dollars over the next decade to foster advanced technologies and a talented labor force.
“We will speed up our facility investment and our advanced foundry R&D. Other countries are trying to catch up to South Korea in the memory sector. Rather than playing more defense, Samsung will take the lead in proactive investment to create an insurmountable “super gap."
SK hynix will contribute to achieving 100-percent domestic production of materials, parts and equipment through production know-how, advanced analysis by experts and specialized services.
During the event, the participants signed three agreements in which they promised cooperation between supply and demand companies in automotive semiconductors, public and private investment to train semiconductor personnel, and investment in high-tech equipment clusters.
Hong Yoo, Arirang News.