Politics · South Korea · 2 hrs ago
South Korea creates new unit to support major semiconductor projects
South Korea’s Ministry of Trade, Industry and Energy is setting up a new semiconductor support unit under a government reorganisation.
The unit will be led by a director-level head and include teams for policy, advanced chips and the wider industry supply chain.
It will support major projects, including a planned semiconductor cluster in the country’s southwest, and help put the Semiconductor Special Act into practice.
Its legal duties include preparing a national competitiveness plan, supporting a special committee and designating and backing semiconductor clusters.
The change matters because semiconductors are a key part of South Korea’s economy and exports, and global competition in the industry is intense.
The unit is due to begin work on October 20.
The reorganisation also creates a team focused on industrial and trade cooperation with India, including work on investment and business ties.
South Korea’s Ministry of Trade, Industry and Energy is creating a new unit to support major semiconductor projects and implement the Semiconductor Special Act.
The Semiconductor Innovation and Growth Support Group will begin operating on October 20.
Led by a director-general-level head, it will include three divisions focused on policy, advanced chips and the semiconductor ecosystem.
Its duties include supporting major projects such as the southwestern region semiconductor cluster and strengthening the industry’s competitiveness.
The ministry is also creating a separate department to handle industrial and trade cooperation with India.
- Who
- South Korea’s Ministry of Trade, Industry and Energy is establishing the Semiconductor Innovation and Growth Support Group.
- What
- The new unit will support major semiconductor projects and carry out responsibilities under the Semiconductor Special Act.
- When
- The government approved the organizational amendment on October 13; it takes effect on October 20.
- Where
- The unit will be established within South Korea’s Ministry of Trade, Industry and Energy.
- Why
- The Semiconductor Special Act assigns the ministry new duties, including planning industry policy and supporting semiconductor clusters and competitiveness.
This story does not have two clearly opposing sides.
A summit between South Korea and India produced cooperation tasks, including plans for an industrial cooperation committee and renewed CEPA improvement talks.
The government said the Cabinet had approved an amendment creating the semiconductor support group and an India cooperation department.
The organizational amendment is scheduled to take effect.
- New unit
- Semiconductor Innovation and Growth Support Group
- Start date
- October 20
- Structure
- Three divisions: semiconductor policy, advanced semiconductors and semiconductor ecosystem
- Project
- Southwestern region semiconductor cluster
- Additional department
- India Trade Cooperation Department
What people are saying
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