S. Korea pledges full support to chip industry

South Korean Finance Minister Choo Kyung-ho

© APA | South Korean Finance Minister Choo Kyung-ho

# 07 April 2023 08:55 (UTC +04:00)

South Korean Finance Minister Choo Kyung-ho pledged Friday full support to the chip industry amid the downturn in the sector, APA reports citing Teletrader.

"Chips act as the brain for cutting-edge industries, including artificial intelligence and future mobility," the minister said while visiting Samsung's production line in Pyeongtaek.

In fact, his remarks come on the same day that Samsung Electronics announced it is expecting its operating profit to plummet 96% in the first quarter of the year precisely due to a drop in demand.

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