On December 10, news emerged that South Korea, aiming to solidify its status as a semiconductor powerhouse, is set to invest 4.5 trillion won (around $3.06 billion) in building a chip manufacturing facility. The funding will be a blend of government and private sector contributions. The South Korean Ministry of Trade, Industry and Energy announced its intention to evaluate the establishment of a 12-inch, 40-nanometer chip foundry. This endeavor will receive joint backing from the government and private entities, with the goal of aiding companies in chip development and testing processes. Considering that a staggering 99% of South Korea's defense-related chips are currently imported, the nation is keen on fostering local production of these essential components. Moreover, the government is contemplating amending laws to give preference to the procurement of domestically produced chips for national security infrastructure.