South Korea appears to be focusing on winning a "war" in the semiconductor business. The country's finance ministry said Sunday that South Korea is planning to release a chip investment and research support package worth over 10 trillion won ($7.3 billion). 

South Korea Planning for Financial Aid Packages in Chip Industry

Choi Sang-mok, South Korea's Minister of Economy and Finance, said the government is working on its assistance package plans for chip investments and research worth more than 10 trillion won. 

He noted that details on the package will be released soon. Yonhap News Agency reported that the multi-billion aid aims to target enterprises along the semiconductor supply chain, including chip materials, equipment producers, and fabless companies.

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South Korea Finance Ministry Meets CEOs of Local Chip Equipment Makers

In a statement, the finance ministry said Choi Sang-mok met with CEOs of local chip equipment producers to discuss the program, which could include policy loans and a new fund funded by public and private sources.

According to Reuters, South Korea is constructing what it claims to be the biggest mega chip cluster in the world at Yongin, a major city in the Seoul metropolitan area.

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