SEOUL, Feb. 28 (Yonhap) — South Korea plans to invest 54 billion won (US$40.8 million) over the next four years to help universities nurture about 400 semiconductor majors every year, officials said Tuesday.
The plan by the Education Ministry comes as the country, home to such semiconductor giants as Samsung Electronics and SK hynix, strives to keep up its competitive edge in chipmaking and tackle manpower shortages facing domestic chipmakers,
Under the plan, the ministry plans to pick eight universities nationwide to provide 54 billion won in subsidies over the four-year period.
The beneficiaries will be, in return, required to open new majors focusing on semiconductors and map up plans to nurture semiconductor talents, according to the officials.
“With the plan, the government seeks to nurture at least 400 semiconductor talents every year,” a ministry official noted.
The ministry plans to monitor the outcome of the subsidy plan through annual assessment, and remove any regulatory hurdles to help the universities smoothly implement their talent development plans, the ministry said.
The ministry seeks to finalize the subsidy plan next month after holding a public hearing, and select and announce beneficiaries in May.