Abov Semiconductor will be given 5.5 billion won in financial support for the next three years from the South Korean government to develop its wireless charging technology.
The Ministry of Trade, Industry and Energy said on Friday that it has selected the company as one of the fabless chip firms it support to develop promising technology.
Abov is also planning to expand its wireless charging microcontroller unit (MCU) development from mobile devices to automobiles.
The company has recently finished development of its MCU A94Q427.
The chip is a variation of the USB-Type C MCU it developed two years ago for smartphones and consumer appliances.
It received the AEC-Q100 certification for automobile component reliability.
The MCU will be launched in the fourth quarter this year and be supplied to a tier-1 supplier in the automobile industry.
Power MCU accounted for 9% of Abov’s sales in the first quarter, behind chips for appliances and mobile, which accounted for 47% and 21%, respectively. It is pushing to expand into the power management sector.