South Korea will set up an aid package worth more than $7 billion to support its chip industry, the finance ministry said Sunday, as part of its drive to boost its critical semiconductor sector. This initiative follows its pledge last year to build the world’s largest chip center using $240 billion of private investment,

South Korea will push to set up a package worth over 10 trillion won ($7.28 billion) to support the chip industry as part of eff

South Korea is readying plans for a support package for chip investments and research worth more than 10 trillion won ($7.30 billion), the finance minister said on Sunday, after setting its sights on winning a "war" in the semiconductor industry.

South Koreas government, under Finance Minister Choi Sang-mok, announced a robust $7 billion support package aimed at propelling the country to the forefront of the global semiconductor industry. Detailing the

South Korea is preparing a program to provide more than 10 trillion won ($7.3 billion) to strengthen the country’s pivotal semiconductor industry, Finance Minister Choi Sang-mok said.

South Korea will push to set up a package worth over 10 trillion won (US$7.28 billion) to support the chip industry as part of efforts to boost the competitiveness of the critical industry and to prop up economic growth,

South Korea is constructing a mega chip cluster in Seoul, which is being touted as the world's largest high-tech complex of its kind.