AIRLINK 154.88 Increased By ▲ 4.63 (3.08%)
BOP 9.96 Decreased By ▼ -0.16 (-1.58%)
CNERGY 7.33 Decreased By ▼ -0.09 (-1.21%)
CPHL 78.24 Increased By ▲ 7.11 (10%)
FCCL 47.53 Increased By ▲ 1.82 (3.98%)
FFL 14.49 Increased By ▲ 0.15 (1.05%)
FLYNG 40.87 Increased By ▲ 3.72 (10.01%)
HUBC 138.71 Increased By ▲ 0.36 (0.26%)
HUMNL 12.93 Increased By ▲ 0.39 (3.11%)
KEL 4.34 Decreased By ▼ -0.22 (-4.82%)
KOSM 5.16 Increased By ▲ 0.17 (3.41%)
MLCF 75.92 Increased By ▲ 6.27 (9%)
OGDC 218.66 Increased By ▲ 15.65 (7.71%)
PACE 5.23 Decreased By ▼ -0.15 (-2.79%)
PAEL 45.30 Increased By ▲ 1.06 (2.4%)
PIAHCLA 14.80 Increased By ▲ 1.35 (10.04%)
PIBTL 8.64 Increased By ▲ 0.02 (0.23%)
POWER 15.13 Increased By ▲ 0.15 (1%)
PPL 168.03 Increased By ▲ 15.28 (10%)
PRL 29.55 Increased By ▲ 2.53 (9.36%)
PTC 20.13 Increased By ▲ 0.84 (4.35%)
SEARL 82.57 Increased By ▲ 7.51 (10.01%)
SSGC 32.79 Increased By ▲ 2.33 (7.65%)
SYM 14.23 Increased By ▲ 0.28 (2.01%)
TELE 6.99 Increased By ▲ 0.08 (1.16%)
TPLP 8.26 Increased By ▲ 0.26 (3.25%)
TRG 63.29 Increased By ▲ 1.39 (2.25%)
WAVESAPP 9.05 Increased By ▲ 0.11 (1.23%)
WTL 1.26 Decreased By ▼ -0.06 (-4.55%)
YOUW 3.61 Decreased By ▼ -0.12 (-3.22%)
AIRLINK 154.88 Increased By ▲ 4.63 (3.08%)
BOP 9.96 Decreased By ▼ -0.16 (-1.58%)
CNERGY 7.33 Decreased By ▼ -0.09 (-1.21%)
CPHL 78.24 Increased By ▲ 7.11 (10%)
FCCL 47.53 Increased By ▲ 1.82 (3.98%)
FFL 14.49 Increased By ▲ 0.15 (1.05%)
FLYNG 40.87 Increased By ▲ 3.72 (10.01%)
HUBC 138.71 Increased By ▲ 0.36 (0.26%)
HUMNL 12.93 Increased By ▲ 0.39 (3.11%)
KEL 4.34 Decreased By ▼ -0.22 (-4.82%)
KOSM 5.16 Increased By ▲ 0.17 (3.41%)
MLCF 75.92 Increased By ▲ 6.27 (9%)
OGDC 218.66 Increased By ▲ 15.65 (7.71%)
PACE 5.23 Decreased By ▼ -0.15 (-2.79%)
PAEL 45.30 Increased By ▲ 1.06 (2.4%)
PIAHCLA 14.80 Increased By ▲ 1.35 (10.04%)
PIBTL 8.64 Increased By ▲ 0.02 (0.23%)
POWER 15.13 Increased By ▲ 0.15 (1%)
PPL 168.03 Increased By ▲ 15.28 (10%)
PRL 29.55 Increased By ▲ 2.53 (9.36%)
PTC 20.13 Increased By ▲ 0.84 (4.35%)
SEARL 82.57 Increased By ▲ 7.51 (10.01%)
SSGC 32.79 Increased By ▲ 2.33 (7.65%)
SYM 14.23 Increased By ▲ 0.28 (2.01%)
TELE 6.99 Increased By ▲ 0.08 (1.16%)
TPLP 8.26 Increased By ▲ 0.26 (3.25%)
TRG 63.29 Increased By ▲ 1.39 (2.25%)
WAVESAPP 9.05 Increased By ▲ 0.11 (1.23%)
WTL 1.26 Decreased By ▼ -0.06 (-4.55%)
YOUW 3.61 Decreased By ▼ -0.12 (-3.22%)
BR100 12,644 Increased By 241 (1.94%)
BR30 37,293 Increased By 1733.2 (4.87%)
KSE100 118,576 Increased By 1278.2 (1.09%)
KSE30 36,302 Increased By 462.9 (1.29%)

SEOUL: South Korea announced on Tuesday an increase in its support package for the country’s vital semiconductor industry to 33 trillion won ($23.25 billion), up about a quarter from a 26 trillion won package unveiled last year.

The measures come in response to calls on the government to expand support at a time of growing policy uncertainty under the current U.S. administration and rising competition from Chinese rivals, the government said in a statement.

Seoul will also ramp up a financial assistance programme for the chips industry to 20 trillion won, versus the previous 17 trillion won, according to the joint statement from various ministries including the trade ministry.

South Korea’s decision to pump more money into its key chips sector is designed to help companies cope with heavier costs as they compete globally, it said.

Asia’s fourth-largest economy is home to the world’s top memory chip makers, Samsung Electronics and SK Hynix, though they have fallen behind some rivals in areas such as chip design and contract chip manufacturing.

In 2024, South Korea’s exports of semiconductors stood at $141.9 billion, accounting for 21% of the country’s total, government data showed.

Shipments to China and the United States stood at $46.6 billion and $10.7 billion, respectively.

U.S. President Donald Trump said on Sunday he would be announcing the tariff rate on imported semiconductors over the next week, adding that there would be flexibility with some companies in the sector.

Trump administration sued over tariffs in US Court of International Trade

In a meeting held on Tuesday after the announcement, Finance Minister Choi Sang-mok said the government would consult actively with the U.S. over its Section 232 investigations into semiconductor and biopharmaceutical imports to minimise any adverse impact on domestic companies.

Last week, South Korea announced emergency support measures for its auto sector, seeking to reduce the blow of U.S. tariffs on a sector that has seen years of sharply rising exports to the United States.

The measures include financial support for the auto industry as well as tax cuts and subsidies to boost domestic demand, while the government also vowed efforts to negotiate with the U.S. and help expand markets.

Comments

200 characters