The semiconductor industry has expressed its strong welcome to the 'K-Semiconductor Strategy' announced by the government.

The Korea Semiconductor Industry Association issued a statement welcoming the K-Semiconductor Strategy announced by the government on the 13th.

The Semiconductor Association stated, “Our semiconductor industry has been leading the global semiconductor industry as the world’s number one in the memory market and has played a significant role as a pillar of the national economy, accounting for 20% of the country’s total exports and 45% of manufacturing facility investment.” They added, “Recently, as competition among major countries surrounding the semiconductor industry intensifies and moves to reorganize the semiconductor supply chain around their own nations become visible, our semiconductor industry is facing a major challenge.” "In particular, major countries such as the United States, China, and Europe are pursuing bold and unconventional policies, including large-scale resource support and investment incentives, to foster their domestic semiconductor industries, leading to a sense of crisis that the competitiveness of our companies could be threatened," he mentioned.

In addition, they stated, “Based on this sense of crisis, the industry delivered a proposal to the government during a meeting between the association’s leadership and the Minister of Trade, Industry and Energy on April 9. The K-Semiconductor strategic measures announced this time were prepared by reflecting industry opinions in a short period of time, and we welcome this on behalf of the industry, evaluating that a significant portion of the industry’s suggestions have been incorporated.”

In particular, he stated, “I am pleased that, in order to facilitate rapid and bold investment expansion by companies, not only tax and financial support, regulatory rationalization, and infrastructure support, but also large-scale workforce training support to resolve the labor shortage is being promoted.”

Along with this, the industry pledged to actively participate in the implementation process.