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According to Yonhap News Agency, South Korean Finance Minister Hong Nam-ki said on Wednesday that South Korea plans to invest more than 200 billion won (US$176 million) in the development of automotive chip manufacturing technology by 2022 to cultivate the next generation of the automotive industry.
Hong Nanji said that the government plans to cooperate with local automakers to find ways to alleviate the current shortage of automotive chips. According to analysis, the shortage of automotive chips may continue into the third quarter.
Hong Nanji said that automotive chips are a key component of the automotive industry. The demand for automobiles in the future is high. Therefore, there is an urgent need to alleviate the short-term supply shortage of such chips, strengthen the supply chain, and seize the market.
Hong Nanji said that the government plans to cooperate with local automakers to find ways to alleviate the current shortage of automotive chips. According to analysis, the shortage of automotive chips may continue into the third quarter.
Hong Nanji said that automotive chips are a key component of the automotive industry. The demand for automobiles in the future is high. Therefore, there is an urgent need to alleviate the short-term supply shortage of such chips, strengthen the supply chain, and seize the market.
The Moon Jae-in government has listed the future automobile as one of the three strategic industries leading economic growth in 2019.
Hong Nanji said that the government will focus on investing in the development of automotive application processors and other key automotive chip manufacturing technologies. At the same time, the government will consider allowing state-owned banks to provide loans at lower interest rates for companies that intend to expand their automotive chip foundry business.
Hong Nanji said that the government will focus on investing in the development of automotive application processors and other key automotive chip manufacturing technologies. At the same time, the government will consider allowing state-owned banks to provide loans at lower interest rates for companies that intend to expand their automotive chip foundry business.