On December 27, according to South Korean media, global competition in Semiconductors is becoming increasingly fierce. In order to secure an export advantage in Semiconductors, South Korea plans to invest 20 trillion Korean won (approximately 13.9 billion USD) to support the local chip industry. The plan is to emulate the successful model of Taiwan Semiconductor (TSMC) and establish South Korea's own 'Korean Semiconductor Manufacturing Company' (KSMC) to address the imbalances in the domestic chip industry. The 'Seoul News' reports that at a recent seminar held by the National Academy of Engineering of Korea (NAEK), the South Korean industrial and academic communities proposed following the lead of TSMC and preparing to establish a government-funded chip foundry – the Korean Semiconductor Manufacturing Company (KSMC). This plan aims to create a balanced ecosystem between foundries and fabless companies through diverse manufacturing processes (including advanced and traditional processes) to tackle the challenges facing the domestic Semiconductor industry and strengthen competitiveness in the Global market.