Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
SpaceX Reports $8 Billion Profit as IPO Plans and Starlink Growth Fuel Valuation Buzz 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Oracle Plans $45–$50 Billion Funding Push in 2026 to Expand Cloud and AI Infrastructure 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
South Korea's government, under Finance Minister Choi Sang-mok, announced a robust $7 billion support package aimed at propelling the country to the forefront of the global semiconductor industry.
Detailing the $7 Billion Support Package for Chip Industry
According to Reuters, South Korea's finance minister said on Sunday that the country is preparing a support package for chip investments and research worth more than 10 trillion won ($7.30 billion) after deciding to win a "war" in the semiconductor business.
Finance Minister Choi Sang-mok stated that the government would soon provide specifics of the package, which targets chip materials, equipment manufacturers, and fabless companies across the semiconductor supply chain.
According to a statement from the finance ministry, Choi told executives from local chip equipment companies at a conference that the program may involve policy loans and the establishment of a new fund backed by state and private financial institutions.
South Korea's Strategic Development of Yongin Mega Chip Cluster
South Korea is also developing a mega chip cluster in Yongin, south of Seoul, which it claims is the world's largest high-tech facility. With promises of investment tax breaks, President Yoon Suk Yeol has pledged to use all available means to win the "war" in chips.
According to the Semiconductor Industry Association (via Sammy Fans), the industry predicts a significant global semiconductor manufacturing landscape shift. By 2032, South Korea's semiconductor manufacturing is expected to outpace Taiwan's, positioning the country as the second-largest manufacturer globally.
Global Market Forecast: South Korea's Chip Industry by 2032
By 2032, South Korea's semiconductor output is expected to rise by 129%, according to the analysis. This is the second-highest growth rate behind the US (203%), while it is anticipated that China (86%), Japan (86%), Taiwan (97%), and Europe (124%), will all lag behind South Korea.
In 2032, South Korea's semiconductor output is anticipated to represent 19% of the worldwide semiconductor market. This is after China, which had 21%, but ahead of Taiwan, which had 17%, and the US, which had 14%. It increased by 2% from its 2022 share of 17%.
Photo: Microsoft Bing
