President Yoon Suk Yeol pledged to invest nine-point-four trillion won, or around six-point-nine billion U.S. dollars, into AI and AI semiconductor by 2027 and to create a one-point-four-trillion-won fund to support innovative companies in the industry.

Presiding over a meeting to check up on the nation's semiconductor sector on Tuesday, Yoon said the current semiconductor competition is an industrial war, as well as an all-out national war.

The president said the government will review incentives for investment to obtain a "war-situation" response, promising bold support measures fit for the domestic environment.

Putting forth an "AI semiconductor initiative" aimed at dominating the market first, Yoon pledged to support the nation in becoming one of the global top three in AI technology and to secure over ten percent of global market share in system semiconductor by 2030.

The president also called for thorough preparation against uncertainties surrounding domestic firms in the aftermath of partial suspension of TSMC plants due to the recent earthquake in Taiwan.