President warns of 'all-out national warfare' around silicon as he announces $19B development package
South Korea's president has described the global semiconductor industry as"a field where all-out national warfare is underway" as he announced a $19 billion to diversify the nation's silicon sector.presented on Thursday at a government economic review meeting, President Yoon Suk Yeol called for South Korea to"open a new future for the semiconductor industry."
To make that happen, South Korea has created a $19 billion program to fund construction of chipmaking mega-clusters – especially the electrical and transport infrastructure they need. Provision of water resources for chipmaking has also been fast-tracked. The president noted that government funds flowing to chipmakers could be perceived as"a tax cut for large corporations or a tax cut for the rich." He rebutted that notion by arguing"the semiconductor industry is the most important and sure foundation for making our people's lives richer and making our economy take off."
Government ministers were the main audience for the presidential speech, and were told to go back to their offices and make His Excellency's vision a reality.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Korea’s Embattled President Outlines Agenda Reset, Apologizes for Wife’s Bag ScandalPresident Yoon Suk Yeol also apologized for the first time for his wife’s Dior bag scandal as he tries to set a new course for his government after recent stinging election defeat.
Read more »
Celtic accused of breaking Yang 'promise' by seething South Korea bossHwang Seon-hong claims he was told the Hoops winger would be available for the Asian Cup before a U-turn.
Read more »
Former Leeds United boss Jesse Marsch in the running to land South Korea jobThe 50-year-old has been out of work since leaving Elland Road in 2023
Read more »
Hepatitis E virus detected for the first time in urban Norway rats in South KoreaA team of researchers from Korea University College of Medicine, including Professor Jin-Won Song from the Department of Microbiology, Professor Ji Hoon Kim from the Department of Internal Medicine, and Researcher Kyungmin Park, has identified hepatitis E virus (HEV) in urban Norway rats (Rattus norvegicus) in the Republic of Korea (ROK) for the...
Read more »
Understand South Korea, a success story with a dark sideFive books and a film that explain why the country is a cultural superpower as well as an economic one
Read more »
Look to the skies this weekend as solar storms strike EarthNorthern Lights may be visible way further south than usual thanks to outbursts from our Sun
Read more »