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Home > Industry News

Global chip competition intensifies, warns Korean expert: Korea will be at the bottom of the competition in the future

Views : 64
Update time : 2023-01-10 10:00:34
        South Korean semiconductor industry veteran and former head of Samsung Electronics' chip unit Yang Hyang-ja has warned of the industry's future prospects, saying South Korea will be at the bottom of the global chip race, largely due to the country's chip bill announced last month.
 
 
        Yang Hyang-ja is one of the key players in South Korea's domestic chip industry, having headed the memory chip development division of the country's chip manufacturing giant Samsung Electronics, for which she worked for 30 years.
        Today, she heads a 13-member special committee on the semiconductor industry, which was set up last year by South Korean President Yoon Seok-yeol's ruling National Power Party to brainstorm solutions.
        In a media interview, she said the future of South Korea's semiconductor sector is flatly uncertain as China, the US and Japan invest billions of dollars in building their own chip supply chains. in the interview, Yang noted, "We are in a chip red sea." 
        South Korea passed its version of the Chip Act - the Tax Exception Limitation Act - in December 2022, which included an expansion of the tax credit rate for large companies investing in semiconductor equipment from the current 6 percent to 8 percent; the deduction for mid-sized and small and medium-sized companies remained unchanged.
        However, while the tax credit was slightly increased, it was nowhere near the magnitude of that in the revised bill proposed earlier by South Korea's ruling National Power Party, in which the tax credit for large companies was expanded from 6% to 20% and for medium-sized companies from 8% to 25%.
        The tax breaks were cut as the Democratic Party, South Korea's opposition party, raised objections to the high tax cut proposal and the South Korean Ministry of Finance was concerned that government revenue would be reduced. The move has sparked collective criticism from the Korean semiconductor industry, which believes the new bill falls far short of the government's promises, with Yang Hyang-ja claiming that "short-term political interests have blinded members of parliament".
        More and more Korean companies are now moving their main production facilities to the US and bringing their best engineers with them. Samsung, for example, plans to build a $17 billion semiconductor plant in Texas and has floated the possibility of investing nearly $200 billion in a series of plants in Austin and Tyler.
 
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