SEOUL (Reuters) - South Korea plans to roll out 14 trillion won ($10 billion) of low-interest loans next year to support its chip industry, the finance ministry said, as the sector grapples with Chinese competition and uncertainties over a new U.S. administration.

South Korea plans to bolster its fiscal support for domestic chipmakers next year, shoring up an industry that may face unfavorable policies from the incoming Trump administration and more intense challenges from Chinese rivals.

The country is constructing what it expects to be the world's largest high-tech chipmaking cluster in Yongin and Pyeongtaek.

South Korea’s president has met a visiting Ukraine delegation and called for a joint response to the threat posed by North Korea’s recent dispatch of more than 10,000 soldiers to support Russia’s war

North Korean leader Kim Jong-un has visited the facility several times and the state media has previously talked about the tactile missiles being mass-produced at the location.

South Korean President Yoon Suk Yeol met with Ukrainian Defense Minister Rustem Umerov in Seoul on Nov. 27 to discuss concerns over deepening military ties between Russia and North Korea, Yonhap News Agency reported.