South Korea’s Ministry of Trade, Industry and Energy said on Tuesday that it plans to spend 32 billion won for four years starting in 2022 in the development of core technologies related to power management ICs.

Korea Semiconductor Industry Association (KSIA) vice chairman Lee Chan-hak said during a forum hosted by the ministry on the same day that support for the development of silicon carbide and gallium nitride power management ICs locally was actively going on.

Lee said the industry, academia and organizations but work together to make sure that the country not only develops the technologies but succeed in commercializing them.

Out of the 32 billion won, 7.2 billion won will be spent next year.

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