South Korea plans to provide about 27 billion yuan in budget support for chips, batteries and other areas next year.
August 30 news, according to foreign media reports, Samsung Electronics and SK Hynix these two chip manufacturers, LG new energy, SK On and Samsung SDI these three battery manufacturers South Korea, in the semiconductor, battery and other fields of strong strength, semiconductor and battery are also their important export commodities, they are also strongly supporting the development of these key industries.
The latest reports from South Korean media show that South Korea is seeking budget support of 5.26 trillion won for key industries including chips and batteries next year.
5.26 trillion won for chips, batteries, etc. The budget will be provided by South Korea's Ministry of Trade, Industry and Energy, which revealed on Tuesday that it seeks 10.74 trillion won (about 55.096 billion yuan), or about 7.97 billion US dollars, to stimulate the development of semiconductors, nuclear energy and other advanced industries and strengthen the supply chain. The budget plan will be submitted to Congress for approval on Friday.
As far as the budget funds sought are concerned, South Korea's Ministry of Trade, Industry and Energy plans to spend 10.74 trillion won (about 55.096 billion yuan) next year, which is lower than this year's 11.16 trillion won (about 57.251 billion yuan), mainly because they have to consider financial stability while focusing on the development of key strategic areas in the future.
Of the 10.74 trillion won budget sought by South Korea's Ministry of Trade, Industry and Energy, 5.26 trillion won (about 26.984 billion yuan) will be invested in cutting-edge core industries such as semiconductors, biomedicine, batteries and robots, more than half of which will be used for talent training and support for private enterprises.
Of the remaining funds, 4.26 trillion won (about 21.854 billion yuan) will be used to strengthen energy security, and 913.6 billion won (about 4.687 billion yuan) will be used to support exports to cope with the increasing uncertainty of the global trade environment.
