On Sunday, the South Korean government unveiled plans to inject 170 billion won (equivalent to roughly US$113.3 million) into aiding small and medium-sized enterprises (SMEs) that specialize in manufacturing high-end strategic materials, components, and equipment. This support will also encompass the advanced semiconductor industry and its associated sectors. The initiative is designed to empower SMEs in the production of pivotal materials and strategic resources, with the application window closing on July 17. Qualified firms stand to gain financial assistance covering 30% to 50% of their investments in new domestic equipment. This fiscal year, the central government has earmarked 100 billion won for this cause, marking a 30 billion won surge from the previous year. When combined with matching funds from local sources, the total support package is anticipated to amount to 170 billion won.