The government, Samsung Electronics, and SK Hynix are joining hands to invest 222.8 billion won to foster advanced semiconductor talent.

The Ministry of Trade, Industry and Energy (Minister Lee Chang-yang) held a public-private joint investment attraction signing ceremony for the 'Public-Private Joint Investment Semiconductor Advanced Human Resources Training Project (hereinafter referred to as the Public-Private Joint R&D Project)' to train advanced master's and doctoral degree holders in the semiconductor industry at the Boko Hotel on the 23rd.

On this day, Samsung Electronics and SK Hynix, representing the industrial sector, participated in the event and signed a memorandum of understanding on investment cooperation for the public-private joint investment semiconductor high-level human resources training project, agreeing to invest a total project cost of 222.8 billion won together with the government.

As a follow-up measure to the ‘Strategy to Achieve a Semiconductor Superpower’ announced on July 21, the Ministry of Trade, Industry and Energy has been preparing a public-private joint research and development (R&D) project to foster advanced master’s and doctoral degree holders in semiconductors together with the industry and specialized organizations.

The public-private joint research and development (R&D) project is a project in which master's and doctoral degree holders perform R&D tasks demanded by the industry and are trained as advanced human resources with specialized capabilities required by companies.

Through research and development (R&D) projects directly discovered and proposed by companies, companies secure core original technologies by utilizing university personnel, and universities eliminate the technology gap with companies by performing R&D projects for companies, thereby fostering specialized personnel with practical experience.

Through this, it is expected that more than 2,365 highly skilled, practical master's and doctoral degree holders will be produced over the next 10 years.

The semiconductor industry and the Ministry of Industry are conducting public-private joint research and development (R&D) projects. signed a business agreement (MOU) to support investment participation and cooperation for fostering semiconductor human resources and creating a research and development ecosystem.

The government and industry plan to invest a total project cost of KRW 222.8 billion in a 50-50 ratio from 2023 to 2032 to provide comprehensive support for securing core technologies and fostering practical, advanced human resources in all semiconductor fields that the industry needs.

In addition, the industry promised to actively cooperate, from discovering tasks to secure advanced semiconductor technologies and foster excellent human resources to supporting university-industry research and development (R&D) through technical mentoring by corporate engineers.

To this end, Samsung Electronics and SK Hynix actively participated in the development of semiconductor cutting-edge technologies and the discovery of tasks to resolve technology bottlenecks during this year's public-private joint research and development (R&D) project planning, and through this, the government plans to promote 47 R&D tasks in 2023.

The 'Semiconductor Development Strategy Forum' held together with the public-private joint investment attraction signing ceremony served as a venue for semiconductor information exchange and communication between academia, industry, and research through analysis of the global semiconductor economic outlook and presentations on semiconductor technology outlook by Samsung Electronics and SK Hynix.

The Ministry of Trade, Industry and Energy's Advanced Industry Policy Officer Lee Yong-pil said, "The public-private joint investment attraction signing ceremony is an important first step for the private sector and the government to work together as a team to solve two tasks: securing technological competitiveness in the semiconductor industry, which is the core of industrial technology hegemony, and fostering excellent human resources. The government will continue to work with the private sector to create a virtuous semiconductor industry ecosystem."