SEOUL (AP) -- South Korea said Tuesday it will expand its financial support package for its crucial semiconductor industry to 33 trillion won (about $23 billion) in part of efforts to address uncertainties posed by the Trump administration's tariff hikes.
The package represents roughly a 26% increase from the 26 trillion won announced last year. Officials are focusing on providing low-cost loans, subsidies, and other financial incentives to stimulate investment in the semiconductor sector. The government aims to facilitate the development of advanced chips by expanding financial assistance for research and development activities and high-tech manufacturing equipment.
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