U.S. government to lend more than $500 million to SK Siltron to help develop semiconductor materials: South Korean report

SK Siltron, a manufacturer of silicon wafers for semiconductors, recently announced that its U.S. subsidiary, SK Siltron CSS, will invest in a SiC (silicon carbide) wafer factory in the U.S.
SK Siltron CSS announced on the 5th that it will receive more than $500 million (USD, approximately 77,453,500,000 yen) in loan support from the government.
The Ministry of Finance announced in a blog post that it has signed a contract for the "Funding Program for the Development of the Republic of Korea Infrastructure Investment Corporation (FDI)." The contract was conditionally approved in February 2024 and is currently being finalized.
The total amount is $544 million (approximately 84.277 billion yen). The purpose is to support companies in the United States to produce silicon carbide wafers, a core material for power semiconductors, domestically.
SiC is the core material of power semiconductors, and is characterized by its ability to operate at voltages about 10 times higher than silicon wafers and in high-temperature environments about three times higher than conventional silicon wafers.
SK Siltron has established production facilities in Gumi, North Gyeongsang Province, Korea, and the United States, and is currently developing next-generation
Mass production of the product, 200mm SiC wafers, is scheduled to begin in earnest from 2025.