South Korea Considers KSMC, a Government-Funded Foundry, to Compete with TSMC Amid Next-Generation Semiconductor Support

Dec 25, 2024, 09:08 AM

The South Korean government is considering the establishment of a new contract chipmaker, tentatively named the Korea Semiconductor Manufacturing Company (KSMC), to compete with Taiwan's TSMC. This initiative is part of a broader discussion regarding support for next-generation semiconductor production, particularly focusing on a company called Rapidus. The Ministry of Economy, Trade and Industry is reportedly initiating discussions on legislative measures to provide funding for Rapidus and enhance the country's semiconductor production capabilities. Despite Samsung Electronics' strong presence in the foundry market, the government aims to bolster its semiconductor industry through this proposed initiative.