South Korea’s draft enforcement decree for the Special Act on Strengthening Competitiveness and Support for the Semiconductor Industry was approved at a State Council meeting on Aug. 4 and will take effect on Aug. 11, according to Odaily.
Decree sets out implementation details
The law is being advanced through a presidential mechanism. The decree spells out the composition of a special committee, procedures for designating semiconductor clusters, support for talent development, and the operation of a dedicated accounting system.
Under the decree, an applicant seeking designation as a semiconductor cluster must submit a development plan. That plan must include core goals, development direction, the cluster’s name, location, area, the status of local industry and infrastructure, and plans for talent development and research infrastructure construction.
Non-capital regions to receive priority
Areas outside the Seoul metropolitan region will receive priority consideration in the cluster designation process.
For industrial infrastructure required by semiconductor clusters, the central and local governments may cover 50% to 100% of total project costs tied to construction and operation. Facilities related to redundancy, supply chain stability, and industrial security may receive full support.
Talent support and retraining included
The decree also allows priority support for employment matching and retraining involving semiconductor companies in non-capital regions and local skilled workers. It also defines the standards and procedures for designating institutions that train professionals for the semiconductor industry.
Kim Jung-kwan, South Korea’s minister of trade, industry and energy, said the ministry will work with relevant departments to push forward the major policy tasks set out in the law.