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The Korea Semiconductor Industry Association (KSIA) said members like Samsung Electronics Co. and Hynix Semiconductor Inc. plan to increase investments starting in 2010, with up to 7 trillion won earmarked for use in the first year.
The semiconductor industry experienced two years of negative global growth that dampened investment sentiments, but a recent rise in memory chip prices and predictions of better times have caused many companies to consider expansion, the umbrella business group said.
Echoing this view, Kwon Oh-hyun Kwon, president of semiconductor business at Samsung, claimed that the worldwide market for chips is expected to rise 11 percent annually after this year on greater demand for personnel computers, mobile phones and other electronic devices.
South Korea led by Samsung and Hynix currently dominate the global memory semiconductor market with efforts underway to gain control of the market for more value-added products like system chips.
System chips refer to communication and image processing chips used on mobile phones and digital cameras and central processing units.
Related to the country's goal to further control the chip market, Knowledge Economy Minister Choi Kyoung-hwan said every effort must be made to boost competitiveness that has been a leading growth and export engine.
He said planned investment by chipmakers will help the national economy as it tries to make a comeback from the global financial crisis triggered by the collapse of Lehman Brothers last year.
The official said that besides memory chips, Seoul is committed to helping companies expand their market presence in system chips and in the semiconductor manufacturing machinery and component sectors.
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