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Latest / Chips, compute and energy

ProgrammeComputeGovernmentSouth KoreaReported

South Korea announces a 26 trillion won support package for its chip industry

See how this story connects

Source: Korea Economic DailyAlso reported by Al Jazeera

President Yoon Suk Yeol announced a 26 trillion won (about $19bn) package for semiconductors on 23 May 2024. It includes 17 trillion won of policy loans through the Korea Development Bank for fab construction, a 1 trillion won fund for fabless and equipment firms, and an extension of chip investment tax breaks due to expire at the end of 2024.

Why it matters

Korean chipmakers such as Samsung and SK hynix, which supply memory for AI accelerators, get cheaper state loans and longer tax breaks for new fabs.

When
23 May 2024
ID
WTA-N-2024-0103
Who
Government of South Korea, Korea Development Bank, Samsung, SK hynix; Yoon Suk Yeol

Summary by wheresthe.ai, from Korea Economic Daily and the reporting credited above. We could not open the primary document, so it is marked Reported. Checked against the source on 9 Oct 2026.

Read the original at Korea Economic Daily

Source copy: download the page as saved on 18 Oct 2026 (PDF). Also held by the Internet Archive.

Next stop on this Storyline: Led toSouth Korea launches a 150 trillion won National Growth Fund for AI and chips

Data to measure this

Compare the years before 2024 with the years since in these series.

  • BACI product-level trade databaseCEPIIHarmonised annual bilateral trade for about 5,000 HS6 products among about 200 countries, including chips.Years: 1995-present · annual · download · CSV · Covers before and after
  • UN ComtradeUnited Nations Statistics Division · paidBilateral goods trade by reporter, partner and product code, for example HS 8542 integrated circuits.monthly · api · CSV, JSON, API

All data for South Korea

Cite this story

WTA-N-2024-0103: “South Korea announces a 26 trillion won support package for its chip industry.” wheresthe.ai, 23 May 2024. https://wheresthe.ai/d/kr-26-trillion-won-chip-support-package-2024-05/ (source: Korea Economic Daily).

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