The Korean Ministry of SMEs and Startups, in collaboration with Samsung Electronics, held the 'Fabless Challenge' event on August 29th at the Korean Federation of Small and Medium Business DMC Tower.

The 'Fabless Challenge' event has been held since last year with the aim of strengthening the system semiconductor ecosystem and providing opportunities for growth for both fabless companies and foundries.

Application for this year began on July 3rd and after a thorough, step-by-step evaluation process, including expert reviews and company presentations, five of the most promising fabless startups were selected - BOS Semiconductors, Gwanak Analog, Damoa Tech, Alpha Solutions, and One Semiconductor.

Samsung Electronics will provide support to these selected startups, including priority access to its foundry MPW (Multi-Project Wafer) production processes and fabrication technology. The Ministry of SMEs and Startups plans to provide up to 100 million Korean Won in R&D grant to each company.

The event started with speeches by Giwoong Oh, Deputy Minister of the Ministry of SMEs and Startups, and Vice President Jung Ki-bong from Samsung Electronics. Deputy Minister Oh emphasized the urgent need to nurture the best fabless companies for the future progress of South Korea's semiconductor industry, especially in the field of system semiconductors, and expressed a strong commitment to proactive government efforts for balanced development between fabless and foundry companies.