Yoon calls for efforts to increase competitiveness of chip sector
Pesident Yoon Suk-yeol looks at a semiconductor photomask during a Cabinet meeting at the presidential office in Seoul's Yongsan District, Tuesday. Yonhap
President Yoon Suk-yeol instructed officials Tuesday to help boost the semiconductor industry by making institutional changes and nurturing a talented workforce.
Yoon gave the instruction during a Cabinet meeting, saying semiconductors are a "national security asset" that account for 20 percent of the country's total exports.
"We must join forces to create the institutional conditions so that the semiconductor industry will be able to further increase its competitiveness in the future," he said.
"In the semiconductor industry in particular, nurturing an excellent workforce is key."
South Korea has the second-largest share of the global chip market at 19.9 percent, after the United States with 49.8 percent, according to data provided by the presidential office.
On his first stop after arriving in South Korea last month, U.S. President Joe Biden toured a Samsung Electronics chip plant together with Yoon to underscore their commitment to supply chain cooperation.
Yoon stressed the importance of talent during the meeting, saying without such a labor force, "we cannot talk about things such as rapid growth." (Yonhap)