Odaily Planet Daily report: The enforcement decree for South Korea’s “Special Act on Strengthening and Supporting the Semiconductor Industry” was approved by the State Council on August 4 and will take effect officially on August 11. The act, promoted by a presidential mechanism, details the composition of the special committee, procedures for designating semiconductor clusters, support for talent development, and the operation of special accounts.
According to the enforcement decree, applicants seeking designation as a semiconductor cluster must submit a development plan outlining the basic objectives, development direction, name, location, area, current status of local industries and infrastructure, talent development, and research infrastructure. Non-capital region areas will be given priority in cluster designation.
The construction and operational costs of industrial infrastructure required for semiconductor clusters can be covered by national and local governments at 50% to 100% of the total project cost. Facilities related to dualization, supply chain stability, and industrial security are eligible for full support.
The implementing decree also stipulates that priority support will be given to connecting non-capital region semiconductor companies with local specialized talent for employment and retraining, and establishes clear criteria and procedures for designating institutions that train semiconductor industry professionals. Minister of Trade, Industry and Energy Kim Jung-kwan stated that the ministry will collaborate with relevant agencies to implement the key policy tasks outlined in the law.