Trade ministry sets semiconductor support rules

The trade ministry said new rules took effect to bolster the domestic semiconductor industry's competitiveness amid global technology competition.

The ministry cited building a foundation for sustainable growth in the industry as an objective.

The ministerial regulation implements the Special Act on Strengthening and Supporting Semiconductor Industry Competitiveness. The law was promulgated Feb. 10 and its enforcement decree was promulgated Aug. 10; both took effect alongside the regulation on Aug. 11.

"To respond to global technology competition and systematically foster the domestic semiconductor ecosystem, we have established a comprehensive government support system, including the designation of semiconductor clusters and the development of industrial infrastructure," Ahn Eun-kyung, spokesperson for the Ministry of Government Legislation, said.

The rules prescribe application forms for designation of semiconductor clusters, requests for faster processing of licenses and permits linked to their development and operation, and regulatory improvements for research and development in advanced semiconductor fields.

The framework also supports innovation at small and mid-sized semiconductor companies. Employment subsidies are available to companies that hire science and engineering research personnel with a master's degree or higher.

Applications are also available for designating semiconductor-industry workforce-training institutions and specialized universities, and for support to establish and operate contract-based academic departments and faculties.