Current investments at home include Samsung’s planned third chip plant in Pyeongtaek, south of Seoul, which began site preparation last year and is expected to be completed in 2022, a Pyeongtaek city official said.
SK Hynix is considering acquiring additional 8-inch chip contract manufacturing capacity, the Ministry of Trade, Industry and Energy said in a statement on Thursday, adding that no final decision has been made.
The government will increase tax breaks to 6 percent from the current 3 percent or lower for capital expenditures between second half of 2021 to 2024 for large corporations conducting “key strategic technology” including semiconductors, the ministry said in a statement.
The government will also offer about 1 trillion won in long-term loans for increasing 8-inch wafer chip contract manufacturing capacity and investment for materials and packaging.
Samsung Electronics, Hyundai Motor Co., the ministry and industry associations on Thursday also agreed to join efforts to respond to the shortage of auto chips, the presidential office said in its statement without providing any details.
