South Korea announced on Tuesday an increase in its support package for the country's vital semiconductor industry to 33 trillion won ($23.25 billion), up about a quarter from a 26 trillion won package unveiled last year. The measures come in response to calls on the government to expand support at a time of growing policy uncertainty under the current U.S. administration and rising competition from Chinese rivals, the government said in a statement. Seoul will also ramp up a financial assistance programme for the chips industry to 20 trillion won, versus the previous 17 trillion won, according to the joint statement from various ministries including the trade ministry.