South Korea unveils $23 billion support package for chips amid US tariff uncertainty

South Korea announced on Tuesday an increase in its support package for the country’s vital semiconductor industry to 33 trillion won ($23.25 billion), up about a quarter from a 26 trillion won package unveiled last year.

The measures come in response to calls on the government to expand support at a time of growing policy uncertainty under the current US administration and rising competition from Chinese rivals, the government said in a statement.

Seoul will also ramp up a financial assistance programme for the chips industry to 20 trillion won,…