News Snapshot:
But her efforts have fallen short. Last month, parliament passed Korea’s version of the US Chips Act. Spearheaded by Ms Yang, the move expedites the approval process to build factories in the metropolitan area, while increasing the number of tech-specialised schools. Separately, parliament passed a bill offering a tax credit of 8 per cent to big firms investing in semiconductor manufacturing, far smaller than Ms Yang’s proposal of 20 to 25 per cent. Unique opportunity Those gestures are a far cry from the billions of dollars in subsidies that other countries are committing to chip production, said Ms Yang, adding...
