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[ Thu, Nov 28th 2024 ]: Tim Hastings
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South Korea to Roll Out $0 Billion in Loans Next Year to Support Chip Industry

  Copy link into your clipboard //science-technology.news-articles.net/content/2 .. in-loans-next-year-to-support-chip-industry.html
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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
SEOUL (Reuters) - South Korea plans to roll out 14 trillion won ($10 billion) of low-interest loans next year to support its chip industry, the finance ministry said, as the sector grapples with Chinese competition and uncertainties over a new U.S. administration.
South Korea has announced plans to provide 10 billion won (approximately $7.5 million) in loans next year to bolster its semiconductor industry, aiming to maintain its competitive edge in the global market. The initiative, detailed by the Ministry of Trade, Industry, and Energy, includes low-interest loans and financial support for small and medium-sized enterprises (SMEs) involved in chip manufacturing. This move is part of a broader strategy to enhance technological innovation, secure supply chains, and foster growth in the sector amidst intensifying international competition. The government's support package also focuses on research and development, workforce training, and infrastructure development to ensure the sustainability and advancement of South Korea's semiconductor industry.

Read the Full U.S. News & World Report Article at [ https://www.usnews.com/news/technology/articles/2024-11-26/south-korea-to-roll-out-10-billion-in-loans-next-year-to-support-chip-industry ]