{"id":2204619,"date":"2024-04-10T08:00:44","date_gmt":"2024-04-09T23:00:44","guid":{"rendered":"https:\/\/koreapro.org\/?p=2204619"},"modified":"2024-04-09T16:21:50","modified_gmt":"2024-04-09T07:21:50","slug":"yoons-chip-cluster-plan-raises-feasibility-concerns-overlooks-challenges","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/04\/yoons-chip-cluster-plan-raises-feasibility-concerns-overlooks-challenges\/","title":{"rendered":"Yoon\u2019s chip cluster plan raises feasibility concerns, overlooks challenges"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korean President Yoon Suk-yeol <\/span><a href=\"https:\/\/www.president.go.kr\/president\/speeches\/VxDLqhBr\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> plans on Tuesday to establish the world\u2019s largest semiconductor mega cluster worth $481 billion (622 trillion won) and swiftly build related infrastructure. The government aims to break ground on the Yongin National Industrial Complex in 2026, speeding up procedures such as environmental impact assessments and land compensation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The government also unveiled the AI Semiconductor Initiative, pledging to invest $6.9 billion (9.4 trillion won) in AI and AI semiconductors by 2027 and create a $1 billion (1.4 trillion won) fund to support innovative companies. The initiative aims to secure leadership in AI ethics, develop next-generation AI technologies and achieve a global system semiconductor market share exceeding 10% by 2030 when the mega cluster becomes fully operational.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The announcement\u2019s lack of specifics on funding sources for the semiconductor mega cluster and AI investments raises questions about the feasibility of these ambitious plans. Further, while the government aims to break ground on the Yongin National Industrial Complex in 2026, the country\u2019s chip manufacturers face intense competition from countries like the <\/span><a href=\"https:\/\/www.commerce.gov\/news\/press-releases\/2024\/04\/biden-harris-administration-announces-preliminary-terms-tsmc-expanded\"><span style=\"font-weight: 400;\">U.S., Taiwan<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/koreapro.org\/2024\/01\/why-south-korean-semiconductor-firms-face-opportunities-and-pitfalls-in-japan\/\"><span style=\"font-weight: 400;\">Japan<\/span><\/a><span style=\"font-weight: 400;\">, which are aggressively subsidizing the reshoring of semiconductor production.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, while Yoon highlighted last month\u2019s $11.7 billion semiconductor exports, he failed to address South Korea\u2019s declining global market share over the past five years. He also did not address the country\u2019s demographic crisis, which has contributed to a shortage of skilled workers in the industry, or South Korea\u2019s difficulty in attracting foreign talent compared to other nations.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/domestic-politics\/\"><span class=\"tag\">Domestic Politics<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/inter-korean-foreign-relations\/\"><span class=\"tag\">Inter-Korean &amp; Foreign Relations<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/technology-cyber\/\"><span class=\"tag\">Technology &amp; Cyber<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korean President Yoon Suk-yeol announced plans on Tuesday to establish the world\u2019s largest semiconductor mega cluster worth $481 billion (622 trillion won) and swiftly build related infrastructure. The government aims to break ground on the Yongin National Industrial Complex in 2026, speeding up procedures such as environmental impact assessments and land compensation. The government [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2204620,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,27,28,29],"class_list":["post-2204619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-domestic-politics","tag-inter-korean-foreign-relations","tag-technology-cyber"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yoon\u2019s chip cluster plan raises feasibility concerns, overlooks challenges - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2024\/04\/yoons-chip-cluster-plan-raises-feasibility-concerns-overlooks-challenges\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yoon\u2019s chip cluster plan raises feasibility concerns, overlooks challenges - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korean President Yoon Suk-yeol announced plans on Tuesday to establish the world\u2019s largest semiconductor mega cluster worth $481 billion (622 trillion won) and swiftly build related infrastructure. 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