The government will increase its support for the chip industry to 33 trillion won, or some 23 billion U.S. dollars. 

That’s up seven trillion won from what it promised in June last year. 

The government will cover 70 percent of industries’ costs for underground transmission lines for semiconductor clusters in Yongin and Pyeongtaek, both in Gyeonggi Province, while doubling its limit for support for large-scale cluster infrastructure to 100 billion won. 

The government will also provide subsidies for small and midsize companies that produce materials, parts and equipment that are vulnerable to export control measures. 

Depending on their size and location, such companies will be able to receive up to 20 billion won in subsidies.