On August 6, Kim Jeong-hwan, South Korea's Minister of Trade, Industry and Energy, articulated that, given the escalating global rivalry in the chip market, South Korea faces the risk of forfeiting its competitive edge in the semiconductor industry unless it backs chipmakers in expediting their investment efforts. He forecasted that by the close of this decade, the worldwide market for memory chips would surge to around $1 trillion, with speed emerging as a pivotal factor in gaining a competitive edge. Kim Jeong-hwan underscored the fact that once customers in the semiconductor industry choose a supplier, they seldom make a switch. Therefore, South Korea cannot afford to cede market share amidst the swiftly expanding demand. Presently, South Korea commands roughly a 65% stake in the global memory chip market. He cautioned against advocating for a more extensive redistribution of industry profits, asserting that policymakers ought to concentrate more on aiding companies in reinvesting their capital rather than deliberating on how to distribute unexpected windfalls from the chip industry.