Korea Radio International (KRI) reported that the National Advanced Strategic Industries Act came into force on April 4. The law designates semiconductor and other industrial technologies as national advanced strategic technologies and strengthens support for them.
The Act on Special Measures to Strengthen and Protect the Competitiveness of National Advanced Strategic Industries (the “National Advanced Strategic Industries Act”), known as the “Special Act on Semiconductors,” went into effect on August 4. The Act will significantly enhance support for corporate investment in strategic industries such as semiconductors through the designation of special zones, support for infrastructure, and relaxation of core regulations.
When a company is designated as a special park, it will receive approval within 45-90 days, and it will also support the construction costs of infrastructure such as roads, gas, water, electricity, collective energy supply facilities, and waste and wastewater treatment facilities. In addition, if a company in the field of national cutting-edge strategic industries applies for improved regulations, the department concerned must discuss the matter and inform the result within 15 days.
To support the development of specialized human resources, the government will designate special universities and graduate schools to offer educational programs for strategic industries and consider expanding the enrollment of related programs. The government will also cover a portion of the company’s share of fees and student tuition for industry-academia programs. In promoting national R&D projects, priority will be given to technology R&D projects related to the country’s cutting-edge strategic industries.
In addition, the government will form the National Committee for Advanced Strategic Industries, headed by the Prime Minister of State, as the highest decision-making body for strategic industrial policy.
As the core of the information industry, the semiconductor industry is touted as a key force to lead the new round of technological revolution and industrial change.
In addition, the global cross-border supply chain has been severely disrupted after the New Crown Pneumonia outbreak, and countries have revealed different degrees of shortage of IC products, making the maintenance of a safe and controllable supply chain an important logic of national industrial policies. Integrated circuit industry may affect all aspects of people’s livelihood and economy.
However, from a long-term perspective, although the support policies of various countries cannot easily solve the current supply chain problems, the frequency of such intensive policies will inevitably have an important impact on the global semiconductor industry ecology.
