South Korea Plans $120 Bn Worth Chip Export As India Decides To Be Part Of Global Semiconductor Map
South Korea aims to actively shore up the semiconductor industry and expedite the advancement of high-bandwidth memory and artificial intelligence chips to reach the annual export goal of $120 billion, said Industry Minister Ahn Duk-geun on Thursday. "The government will support the timely establishment of related infrastructure, secure competitive technologies, promote exports, and strengthen the ecosystem of materials, parts, equipment, and fabless sectors," Ahn said, IANS cites the report of Yonhap news agency.
The move comes at a time when India has embarked on an ambitious semiconductor journey, with massive investments pouring in. About $26 billion worth of investment proposals are currently with the Indian government for semiconductor manufacturing in the country, according to industry sources.
Investment Proposals Under Consideration
As per industry, this initiative arises amidst India's ambitious foray into the semiconductor realm, with substantial investments pouring in. Industry sources reveal that investment proposals worth about $26 billion are currently under consideration by the Indian government for semiconductor manufacturing in the country.
The government has already cleared proposals worth over $18 billion encompassing three new semiconductor fabrication (fab) manufacturing projects worth Rs 1.25 lakh crore.
