South Korea targets localising 50% of its chip materials supply by 2030

SEOUL (Reuters) - South Korea said on Thursday it is targetting supplying half of its chip materials, components and equipment locally by 2030, up from 30% currently.

The plan is part of President Yoon Suk-yeol administration's strategy to strengthen the semiconductor industry as the home to top memory chip makers Samsung and SK Hynix seeks to bolster supply chain stability and resources to become a "superpower" in the field.

South Korea's chip industry estimates that about 20% of chip equipment and 50% of chip materials have been localised, the industry ministry said in a joint statement with other ministries.

(Reporting by Joyce Lee; Editing by Muralikumar Anantharaman)