Korea to Inject 58 bln won to Development of Chip Manufacturing Equipment
The South Korean government and private sector will jointly inject 58.4 billion won (US$50.5 million) over the next three years into building up the local semiconductor manufacturing equipment sector, government officials said.
The Industry and Ministry of Knowledge Economy said the investment is aimed at helping local companies develop technologies needed to make next-generation semiconductors and replace imported manufacturing machinery.
Of the total to be used up till November 2012, the government will pay 35.9 billion won, with companies including Samsung Electronics and Hynix Semiconductor to foot the remainder.
“The Injection of state money will be made under the condition that Samsung and Hynix will buy finished products and technologies if they meet international standards,” said Park Tae-sung, head of the ministry semiconductor and display division said.
The plan calls for the local production of seven manufacturing equipment currently imported from abroad and the development of five key future technologies needed to meet future industry demand, Park said.
According to him, the project includes the local production of machinery capable of manufacturing sub-30 nanometer semiconductors and technologies to make so-called phase change random access memory and resistive random access memory.
If the injection of funds bears fruit, local output of related products is expected to reach 1.2 trillion won for five years after 2013.
This could further strengthen the country’s leading status in the semiconductor sector.
YonhapNewsAgency
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