The government will cover up to 100% of the expense for building infrastructure such as power and water in areas designated as semiconductor clusters with national funds.
The Ministry of Trade, Industry and Resources said on the 4th that the Enforcement Decree of the Special Act on Strengthening Competitiveness and Support for the Semiconductor Industry, which contains these details, was approved by the Cabinet. The newly established decree will take effect in earnest on the 11th.
The decree specifies matters delegated by the Special Act on Strengthening Competitiveness and Support for the Semiconductor Industry (Semiconductor Special Act) and includes details on: ▲ the composition and operation of the Special Committee on Strengthening Semiconductor Industry Competitiveness ▲ the designation procedures and support for semiconductor clusters ▲ support for training semiconductor industry personnel ▲ the management and operation of the Special Account for Strengthening Semiconductor Industry Competitiveness.
The expense for establishing and operating industrial infrastructure needed for clusters can be borne by the state and local governments within a range of at least 50% and up to 100% of the total project cost. In addition, priority support may be provided for job matching and retraining of non-capital region semiconductor corporations and local specialized talent.