Korea is creating a chip policy office to fast-track W800tr of semiconductor investment. Seoul is treating silicon as a national priority and building the policy plumbing to move capital faster. Watch

What happened: South Korea will launch a director-general-level semiconductor policy office under the Ministry of Trade, Industry and Resources next week, following Cabinet approval of the reorganization on Tuesday. Key numbers: Samsung Electronics and SK hynix are expected to invest a combined 800 trillion won ($595.5 billion) in facilities. Why it matters: The office will coordinate large-scale investments, infrastructure and a new industry-support law to speed decision-making as the US, China and Japan intensify competition in advanced chip production.

South Korea will launch a director-general-level semiconductor policy office under the Ministry of Trade, Industry and Resources next week, following Cabinet approval of the reorganization on Tuesday.

The office will coordinate large-scale investments, infrastructure and a new industry-support law to speed decision-making as the US, China and Japan intensify competition in advanced chip production.