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South Korea plans to invest $450bn to become chip 'powerhouse'

Spending by Samsung and others, along with tax breaks, to boost competitiveness

South Korea's semiconductor industry is a mainstay of its economy.

SEOUL -- South Korea is going all out to bolster its critical semiconductor industry, with the government on Thursday announcing a plan by companies to invest 510 trillion won ($451 billion) and beefed-up tax benefits to boost chipmakers' competitiveness amid a critical global shortage of the key components.

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