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The Korea Herald
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THE INVESTOR
March 28, 2024

Economy

Korea to support non-memory chip businesses

  • PUBLISHED :April 30, 2019 - 15:30
  • UPDATED :April 30, 2019 - 15:32
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President Moon Jae-in on April 30 emphasized the great growth potential of the non-memory chip sector, reaffirming the government’s plan to offer every possible support for South Korea’s businesses involved.

He laid out a strategic vision to boost the “system” semiconductor industry, making his first visit to a local factory of Samsung Electronics since taking office in May 2017.


The visit to the facilities in Hwaseong, Gyeonggi Province, was meant to demonstrate the liberal administration‘s resolve to promote it as the country’s future economic growth engine, along with bio-health and next-generation automobiles.

“If (our) challenge in the system semiconductor field succeeds, (Korea) will position itself as a true, comprehensive semiconductor powerhouse,” Moon said in a ceremony held at Samsung’s advance base for non-memory chip businesses.

He recalled Korea’s success in memory chip development, saying it can capitalize on the experience and technology.

“Our goal is clear,” Moon stressed. “It’s to leap to the status of a comprehensive semiconductor power by becoming No. 1 in the system semiconductor foundry sector and attaining 10 percent of the market share in the fabless one by 2030, while maintaining the top spot in the memory chip field.”

Nearly 90 percent of Samsung’s revenue comes from the memory business, and observers say it is likely to lose its semiconductor crown to Intel sometime this year.

Moon pointed out that the system semiconductor market is 1.5 times bigger than that of the memory chip market.

“It’s growth potential is infinite,” he said. “If it’s utilized in the entire industrial field, such as robots, bio and cars, (the market) will grow to the size of 300 trillion won in 2022.”

By Ram Garikipati and newswires (ram@heraldcorp.com)

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