News Snapshot:
The South Korean government unveiled an ambitious plan to spend $450 billion over the next decade to establish itself as the world leader in semiconductor manufacturing, per Bloomberg. The plan is part of the current administration’s broader national blueprint, which uses tax breaks, lower interest rates, and loosened regulation to incentivize chipmakers to accelerate production. President Moon Jae-in teased his long-term vision in a May 10 speech, saying he sees semiconductors “as an opportunity for a new leap forward.” The move comes amid the ongoing global chip shortage —stemming from a pandemic-induced surge in demand for consumer electronics—which has wreaked...
