The Korean government has launched the System Semiconductor Design Support Center to help entrepreneurs launch business in the system semiconductor field by providing support for technology development and marketing.
An opening ceremony was held at the Korea Semiconductor Industry Association in Seongnam, Gyeonggi Province, on July 31.
“We will provide support to start-ups in terms of office space, capital, technology and marketing so that entrepreneurs can start business only if they have ideas,” the Ministry of Trade, Industry and Energy said.
A system semiconductor is a semiconductor that analyzes and processes data. System semiconductors are thought to constitute the core of such new technologies as artificial intelligence (AI) and internet of things (IoT) that spearhead the Fourth Industrial Revolution, but the domestic industrial ecosystem has not reached the global level. There was only one Korean start-up in the system semiconductor field this year.
The future start-ups who enter the center can move into the Research Center for Semiconductor Platform of the Electronic Components Research Institute and receive guidance on technology development and entrepreneurship. They can also get support for technology transfer from research institutes and universities and for prototype production.
The Ministry of Trade, Industry and Energy plans to utilize the 200 billion won of the semiconductor growth fund to secure start-up funds and attract investment. Vice Minister Lee In-ho said, "We will continue to offer support to Korean semiconductor design companies to secure the next generation technology and position themselves as the core of innovation growth."