The recent global shortage of automotive chips has brought shock to automakers. South Korea's Ministry of Trade, industry, and Energy, along with Samsung Electronics and Hyundai Motor, signed an agreement on strengthening cooperation between the demand side and supply side of automotive chips at Samsung Electronics' Pyeongtaek plant with Korea Automotive Research Institute and Korea Electronics Technology Research Institute on the 13th.

The agreement aims to create a robust ecosystem for the domestic automotive chip industry and support the research and development of core semiconductors for future automobiles. Thereby laying the foundation for cooperation among governments, companies, and institutions to cope with the global automotive chip drought and work together for the independent production of core chips for future automobiles.