(MENAFN) South Korea's industry ministry has vowed to boost efforts to upgrade the competitiveness of the country's main industrial sectors by expanding research and development efforts and easing regulations.
The Ministry of Trade, Industry and Energy has declared a set of measures to stimulate innovation in mian export sectors, including semiconductors, displays and rechargeable batteries, in the face of toughening competition with emerging rivals.
Industry minister said: "the high value-added strategies are aimed at innovation in the manufacturing industry and securing fresh growth momentum. The manufacturing support measures will help create jobs and boost the local economy."
Samsung Electronics Co. and SK hynix Inc. have posted robust earnings in 2018 on strong chip demand for mobile devices and servers, but the prospects are not too well amid a slowdown in the chipmaking sector next year.
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