Ministry of Industry and KCCI Review Immediate Challenges in Future Industries Including Semiconductors

[Sejong=Asia Economy Reporter Kwon Haeyoung] On the 5th, the Ministry of Trade, Industry and Energy reviewed the immediate challenges of the semiconductor industry and discussed future development directions through the 1st 'Transition Period Industry-Specific Future Industry Forum' held at the Korea Chamber of Commerce and Industry.

Hosted by the Korea Chamber of Commerce and Industry, this forum is scheduled to be held a total of eight times by key industries. It will be conducted through thematic presentations by private sector experts in each industry and free discussions among public and private participants.

This time, discussions were divided into three topics regarding the semiconductor industry: ▲Current status and development direction of digital transformation ▲Current status of greenhouse gas emissions and key tasks for carbon neutrality ▲Calls for a new regulatory paradigm to foster growth in the semiconductor industry.

Jang Seokin, Chair Professor at the Korea University of Technology and Education, called for a new regulatory paradigm that can support securing global competitive advantage and creating an innovation ecosystem in the semiconductor industry after COVID-19. He stated, "Due to the nature of the semiconductor industry, a vast site area is required, and if natural green spaces are included in the process of new or expanded factory construction, expansion or relocation becomes difficult, so strategic government support is urgently needed. Large-scale semiconductor production lines frequently face licensing issues related to hazardous chemicals, and regulations on this should be applied flexibly and efficiently," he argued.

Lee Sanggeun, Vice Chairman of the Semiconductor Industry Association, conveyed to the government requests including ▲support for digital transformation by industry ▲R&D support for the development of eco-friendly process gases ▲regulatory relaxation to alleviate the deepening management burdens on companies.

Kang Kyungsung, Director of Industrial Policy at the Ministry of Trade, Industry and Energy, said, "Recently, our industry is rapidly entering a transition period due to environmental changes such as accelerated digital transformation and challenges of carbon neutrality," adding, "In particular, the semiconductor industry is becoming increasingly important as a core component of promising industries such as future vehicles, 5th generation (5G) mobile communications, and artificial intelligence (AI), as well as a strategic component for military security. We will secure future competitiveness through active and bold support."