📊Executive Summary

The South Korean government is investing $176.8 billion in its domestic automotive semiconductor industry over the next two years to combat the global chip shortage. This initiative aims to reduce reliance on imported chips, as currently, 98% of automotive chips are sourced from abroad. The plan includes converting non-automotive semiconductors for vehicle use and fostering collaboration between local manufacturers and chipmakers. This investment is expected to enhance the development of advanced automotive technologies, including electric vehicle components and autonomous driving systems, while also addressing the production challenges faced by major automakers like Hyundai and Volkswagen....