Launch of Semiconductor Special Committee with Yang Hyang-ja as Chairwoman: "Winning the Semiconductor Hegemony War through Legislation and Budget Utilization"

[Asia Economy Reporter Oh Ju-yeon] Yang Hyang-ja, a member of the Democratic Party of Korea and chairperson of the 'Special Committee on Semiconductor Technology Hegemony War (Semiconductor Special Committee),' stated that she will "make full use of legislative and budgetary authority" as she takes action to revive the domestic semiconductor industry, which is facing a crisis amid the US-China semiconductor hegemony competition.

On the 21st, the Democratic Party launched the Semiconductor Special Committee. This was due to the recent semiconductor supply shortage and the recognition that a national-level response is necessary in the US-China competition for semiconductor dominance. Voices emphasizing the need to protect the semiconductor industry, which has been the top export sector since 2013 and accounts for 19.4% of total industrial exports, are gaining strength.

Yang Hyang-ja, a member of the Democratic Party of Korea, is being interviewed on the 13th at the National Assembly Members' Office Building in Yeouido, Seoul. Photo by Kang Jin-hyung aymsdream@

Immediately after being appointed chairperson, Yang Hyang-ja posted on Facebook, "The semiconductor war is escalating beyond the US-China conflict into a world war," adding, "This is a critical moment on which the fate of the Republic of Korea depends. The Semiconductor War Special Committee will take the lead."

Yang, formerly of Samsung Electronics, has long persistently voiced opinions on supporting and fostering the domestic semiconductor industry. She was the first to propose this special committee.

Yang said, "As the hegemon of memory semiconductors, Korea cannot avoid this (semiconductor hegemony) war, nor should it," adding, "This is a very important war that determines whether we collapse or soar."

She emphasized, "The responsibility is immense," and stated, "We must win unconditionally to survive. If we survive, Korea will become a key player in reshaping the global order."

Yang expressed her ambition, saying, "The Semiconductor War Special Committee will take the lead," and "The committee will be the gateway for information, the channel for companies, and the outlet for strategy in this war." She continued, "To this end, I will make full use of the legislative and budgetary powers entrusted by the people," adding, "We will unite the party, government, Blue House, industry, academia, and research to conclude this war with victory and prove the competence of the ruling party."

On the same day, Floor Leader Yoon Ho-jung also stated at an emergency countermeasure meeting, "We will seek ways to expand support for the domestic semiconductor industry to become an unrivaled semiconductor powerhouse," and "We plan to establish the 'K-Semiconductor Belt Strategy' in the first half of the year and announce a comprehensive support policy including tax incentives and workforce development."

Going forward, the Semiconductor Special Committee plans to listen to and gather opinions from the economic and industrial sectors to reflect them in government support policies. The introduction of a special law for semiconductor support at the National Assembly level and the formation of a public-private-government council are also expected to be organized around the committee.