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Industry

SK hynix launches 2 trillion won export supply chain guarantee to ease supplier loans

SK hynix launched an export supply chain reinforcement guarantee programme with the government and major lenders to support semiconductor materials, parts and equipment suppliers. The joint financing scheme totals 2 trillion won, with SK hynix and banks contributing funds and Korea Trade Insurance Corp providing guarantees. Eligible suppliers can receive larger loan limits, preferential rates and reduced guarantee fees. Officials also reviewed progress at the Yongin cluster and the Trinity Fab project.

Industry

MOTIE sets up Semiconductor Innovation Growth Support Division to handle mega projects

South Korea\'s Ministry of Trade, Industry and Energy has expanded its semiconductor policy organisation to bureau level by creating the Semiconductor Innovation Growth Support Division. The ministry said a cabinet meeting on Oct. 13 approved a decree revising its organisational rules to establish the unit, aimed at handling statutory duties under a new law and overseeing semiconductor mega projects. The ministry also said it will create an India Trade Cooperation Division.

Industry

Industry ministry audit lacks substance without witnesses or documents, repeats partisan clashes

A parliamentary audit of South Korea\'s industry ministry drew attention for issues including mega-projects and U.S. investment, but devolved into partisan wrangling without key witnesses or requested documents. Lawmakers said submissions were withheld despite public money being involved. The ministry repeatedly said it would check or review. Disputes also emerged over who proposed the Honam semiconductor cluster. Lawmakers questioned differing explanations over an Alaska LNG project and urged an investigation into a leaked closed-door transcript.