The government will invest 240 billion won in technological development for the semiconductor sector over the next decade in an effort to raise competitiveness. It also plans to create related majors at five universities to foster master's and doctorate level talent. 

The Ministry of Science and ICT on Thursday announced the measures as a follow-up to the strategic vision statement for the nonmemory chip sector unveiled by the Ministry of Trade, Industry and Energy last month.

Five select universities will also open majors for system semiconductors. They will each receive ten billion won in state subsidies over six years.