# SKorea Offers Big Loans & Tax Breaks to its Chip Industry

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Last modified: 2021-05-14

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By Paul Ebeling · 2021-05-14
Tags: industry, Headline News, Paul Ebeling, chip, SKorea
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#SKorea #chip #industry

"C*hips are the #1 export item for SKorea, accounting for nearly 20% of exports*"-- Paul Ebeling

Thursday, Korea said it would offer bigger tax breaks plus $883-M in loans for its chip industry.

Some 153 chip companies including global No.1 and 2 memory chip makers Samsung and SK Hynix (000660.KS) already have plans to invest a combined WON 510-T won or more between this year and Y 2030, according to the Korea Semiconductor Industry Association.

Samsung's increased investment target, up from WON 133-T  announced in Y 2019, is expected to be used for its goal to become the world's No. 1 logic chipmaker by Y 2030. It wants to challenge bigger rivals TSMC (2330.TW) in contract chip manufacturing and Qualcomm (QCOM.O) in mobile processing chips.

"*Countries around the world have entered fierce competition by reorganising supply chains around their own country,*" SKorean President Moon Jae-in said Thursday at Samsung's chip site at Pyeongtaek.

*"We need pre-emptive investments... to strengthen the domestic industrial ecosystem and lead the global supply chain to make this opportunity ours."*

Have a healthy day, Keep the Faith!

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