South Korea plans to create a new 5 trillion won ($3.5 billion) fund for chipmakers as part of a large-scale investment initiative in artificial intelligence and semiconductors.
The fund will focus on semiconductor materials, parts, equipment, and companies that outsource chip fabrication, Presidential Chief of Staff Kang Hoon-sik said at a media briefing on Monday.
This followed a meeting to review progress on the "three megaprojects" initiative unveiled in June to invest in semiconductor clusters, physical AI, and AI data centers across the country.
"It is important to have preemptive policy design from the very start to ensure that the investment outcomes of megaprojects spread not only to large companies but also to materials, parts, and equipment companies, as well as small — and medium-sized enterprises," said Kang.
Another 1 trillion won will be invested over the next 10 years to foster joint growth in the semiconductor sector.
