A special act to systematically support South Korea’s entire semiconductor supply chain passed a plenary session of the National Assembly on Jan. 29. The legislation provides an institutional basis covering memory and system chips as well as design, manufacturing, packaging and materials, parts and equipment. It creates a presidential committee, a basic plan and a special account. It also promotes support for non-capital regions, cluster development, R&D facilities, talent programmes and regulatory exemptions. Implementation could begin as early as the third quarter.