Samsung to splurge $230B on five new chip plants for South Korea
Samsung Electronics is slated to invest $230 billion over the next 20 years to build five semiconductor plants in South Korea as part of a wider plan from the government to beef up domestic supply.said some would be for foundry chipmaking.
The government is set on creating a state-of-the-art semiconductor cluster, which President Seok-Yeol Yoonat the government's 14th emergency economic and public livelihood meeting would be the"world's largest." The cluster is destined for Yongin, south of Seoul in Gyeonggi Province, where both SK hynix and Samsung have a presence. The cluster would eventually contain the five advanced chip fabrication facilities and around 150 companies that produce materials, parts or equipment related to R&D or fabless firms.
The semiconductor effort is part of a wider $380 trillion plus private-sector investment plan that promotes six industries. Aside from chips, the plan bolsters displays, batteries, biopharmaceutical, electric vehicles and robots.
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