Brief by Shorts91NewsDesk / 05:24am on 15 Apr 2025,Tuesday Business
South Korea has increased its semiconductor industry support to 33 trillion won ($23.25 billion), up from 26 trillion won, addressing U.S. policy uncertainties and Chinese competition. Financial assistance for chipmakers like Samsung and SK Hynix will rise to 20 trillion won. In 2024, semiconductors comprised 21% of South Korea's exports, totaling $141.9 billion, with China and the U.S. as key markets. The move follows U.S. President Donald Trump's announcement of potential new tariffs on imported semiconductors. Finance Minister Choi Sang-mok plans to consult with the U.S. to minimize impacts from Section 232 investigations. This aligns with South Korea's broader strategy to support key industries amid global trade tensions. (PC: Reuters)
