Hong Nam-ki, Deputy Prime Minister of Economy and Minister of Strategy and Finance, all speak at the Big Three Promotion Meeting held at the Sejong-ro Government Complex in Seoul on the 10th. Kim Yong-rae, the head of the Intellectual Property Office, is late to the meeting. Reporter Hong In-ki
The government decided to invest 200 billion won in research and development (R&D) expenses into the automotive semiconductor industry, which is facing a disruption in supply and demand, to grow it into a major industry. Various support measures are also implemented in customs clearance and logistics to relieve immediate supply and demand anxiety.
On the 10th, the government held the 6th Innovation Growth Big 3 Promotion Meeting and announced a strategy for short-term supply and demand response of semiconductors for vehicles and strengthening industrial capacity.
Recently, there has been a worldwide shortage of semiconductor supply for vehicles. As the demand for semiconductors in other fields such as mobile home appliances has exploded due to the Corona 19 incident, consigned semiconductor manufacturers (foundries) have not been able to make semiconductors for vehicles as they used to be.
Domestic automakers also imported about 98% of vehicle semiconductors and were affected by the recent supply shortage.
Deputy Prime Minister Hong Nam-ki and Minister of Strategy and Finance said, “The short supply of semiconductors for vehicles that depend mostly on overseas imports has a significant impact on the production of finished cars. And mid- to long-term supply chain improvement, and market preoccupation is urgent.”
The government believes that the disruption in supply and demand for automotive semiconductors will continue until at least 3Q, and in the mid to long term, it has decided to strengthen domestic automotive semiconductor capabilities.
First, it plans to invest more than 200 billion won on the development of core semiconductor technology for future vehicles such as automotive application processor (AP) by next year, and apply an industrial structure enhancement program that provides financial support at preferential interest rates when companies expand automotive semiconductor production facilities.
In order to quickly commercialize automotive semiconductors, it will also support the business of converting and remodeling non-vehicle semiconductors such as mobile devices into vehicles.
They also came up with measures to relieve the immediate supply and demand anxiety. First, it supports rapid customs clearance for automotive semiconductor parts to prevent disruption in automobile production. If necessary, emergency support systems such as rapid customs clearance for raw and subsidiary materials and special cases for air transport fares will also be applied. For businessmen entering and leaving the country to procure semiconductors for vehicles, a rapid examination for exemption from self-isolation will be promoted, and corona 19 vaccination will also be promoted.
Sejong = Park Se-in reporter [email protected]
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