According to reports, the South Korean government has announced a total of 26 trillion won chip support plan to help South Korean companies such as Samsung Electronics and SK Hynix maintain their leading position in increasingly fierce competition.

This plan, totaling 26 trillion won, is more than twice the amount of the 10 trillion won plan proposed by South Korean Finance Minister Choi Sang mok two weeks ago. It includes 17 trillion won in financial support for specific investments and tax incentives, which will extend the semiconductor industry tax incentives that expire at the end of this year.

After the announcement, the stock prices of Samsung and SK Hynix both rose by about 1%.

As the world's largest producer of memory chips, South Korea has always been more inclined to let large conglomerates such as Samsung and SK Hynix dominate investment in the chip field. However, the South Korean government is now playing a more active role and planning to establish a large cluster of chip factories outside of Seoul.

This plan is South Korea's largest single investment in supporting the chip industry to date, and the South Korean government plans to finalize the details of the plan in June.

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