impact analysis
The global status of the semiconductor industry to date has significantly improved ever since its development. Based on a forecast by IDC, the market share of wafer foundry output values from Taiwan will reach 68% by 2025. Although these market shares have not changed significantly from 67% in 2020, it is considered difficult to maintain such a high market share for the mere transformation of commercial activities since semiconductors have turned into an industry that affects national security and strategies. 
Besides realizing its importance in the US, the EU and Japan have also hoped to reverse the current decline through incentive policies. However, South Korea and mainland China have also spared no effort to directly support local manufacturers. Moreover, while it is worthy to note that Taiwan's semiconductor industry has become globally recognized, we should, at the same time, advance gradually and consolidate ourselves with every step moving forward in the industry as it has now become a site of competition and a trial of strength among many countries.
Substrates, which are part of the semiconductor supply chain, has grown in popularity with the progression of advanced manufacturing processes in recent years. However, various countries around the world are aggressively making efforts regarding its development because of its importance. On one hand, Japan has monopolized key upstream materials while South Korea has benefited from the drive of downstream customers; both countries seem to have a respective competitive edge. Therefore, even though Taiwan’s substrate industry can take advantage of free rides from domestic semiconductors due to its favorable location, this competition may change in the future as various countries have consistently shown goodwill in the semiconductor trade. In addition, since Japan and South Korea possess certain technical expertise, the way that substrate competition is confronted will be different from the competition seen in PCB products in mainland China.