South Korea plans to support the disk industry with $ 7.3 billion

Finance Minister Choi Sang Mok said South Korea is a program to win over 10 trillion ($ 7.3 billion) to improve the country’s central semiconductor industry. The Ministry of Finance said in a statement today that Choi on Friday during a meeting with the local companies manufactured for discs, parts and equipment studying the government are studying ways to finance the program to support the industry. The options are for the program to obtain funding from the Korean Development Bank of the State or a Joint Fund of Public and Private Financing. Choi, who is also deputy prime minister, said the details will be announced soon. The move comes at a time when the US government is pushing its allies, including South Korea, to tighten restrictions on China’s arrival in semiconductor technology. Bloomberg said US officials also want South Korea to limit the flow of equipment and technologies needed to make logical discs (used in artificial intelligence) and advanced memory to China. Korea, the world’s largest memory chips producer, wants to dominate in this area by investing $ 470 billion in a large group of semiconductors outside Seoul, where competition between the United States and China complicates supply chains. To support the plan, the government has proposed measures that include investment tax incentives.