Shulou(Shulou.com)11/24 Report--

CTOnews.com, December 29, according to a report by the Korean Radio International, the South Korean National Assembly passed the amendment to the National Advanced Strategic Industry Law (also known as the "Semiconductor Special Law"), which includes shortening the approval time for the construction of semiconductor factories.

The South Korean National Assembly of Tu Yuan Pexels held a plenary session on the afternoon of the 28th and passed the above bill by 184 votes in favor, 4 votes against and 12 abstentions. According to the amendment, the rapid examination and approval time for the construction and operation of characteristic industrial parks such as semiconductors will be reduced from 30 days to 15 days. The amendment also stipulates that 60 days after the request of the head of the Ministry of Industry, Trade and Resources for prompt examination and approval, the approval shall be automatically regarded as the end of the examination and approval. In addition, public institutions such as public enterprises and quasi-government agencies have also been included in the exemption object of the preliminary feasibility study.

CTOnews.com learned that the amendment also listed science and engineering disciplines and industrial demand-oriented high schools as linkage agencies for professional training programs, and formulated a basis for the adjustment of enrollment quota in relevant colleges and universities.

According to Yonhap news agency, the data of "Industrial activity Trends" released by the South Korean Bureau of Statistics on the 29th show that demand for information technology (IT) has shrunk by the global economic downturn, resulting in an 11% drop in semiconductor production in January. South Korean Statistics Office analysis pointed out that the slowdown in demand for products such as smartphones has led to an increase in semiconductor inventory, resulting in a significant reduction in production.

According to the Korean Herald, industry sources revealed that in order to strengthen preparations for the global recession in 2023, as well as falling chip prices, adverse exchange rates and further interest rate increases, Samsung Group, South Korea's largest conglomerate, held a rare meeting attended by the chief executives of all its subsidiaries on Monday. The meeting on Monday comes as Samsung prepares for a bleak outlook for next year, according to sources. Especially when the outlook for the semiconductor market is bleak next year, Samsung Electronics is very likely to lose money in the fourth quarter.

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