US plans $75 million grant to Absolics for advanced chip packaging

The US Commerce Department said on Thursday it plans to grant $75 million to Absolics for constructing a 120,000-square-foot facility in Georgia that will supply advanced materials to the country's semiconductor industry. The planned award to the semiconductor packaging provider, an affliate of SKC Co, which in turn is part of South Korea's second-largest conglomerate SK Group, is to come from the U.S. government's $52.7 billion U.S. semiconductor chips manufacturing and subsidy fund. The funds will develop technology for advanced packaging, marking the first commercial facility to support the semiconductor supply chain with a new advanced material.