SAMSUNGelectronics said on the 15th that it would be inSouth KoreaFive new semiconductor factories will be built in the country with an investment of about 300 trillion won (US$230 billion) to be developed by 2042. The South Korean government describes it as the world’s largest.PieceThe manufacturing base is in line with South Korea’s efforts to strengthen the chip industry.
South Korea’s Ministry of Industry, Trade and Energy announced that Samsung’s plan is part of the government’s overall plan to promote six key industries, including chips, displays, rechargeable batteries, biotechnology, future cars and robots. The South Korean government also hopes to invest in the ventures. amounting to 550 trillion won by 2026. The strategy aims to expand tax incentives and infrastructure support to improve the competitiveness of high-tech industries including chips, panels and batteries.
The Ministry of Industry, Trade and Resources said in a statement that the planned System Semiconductor Settlement will be set up in Gyeonggi-do. Samsung’s newly built manufacturing facility will include five wafer factories and attract 150 materials, components and equipment manufacturers. Unlimited factory semiconductor chip makers and semiconductor research and development institutes are deployed.
The new complex will be located near the existing chip factories of Samsung Electronics and SK Hynix, as well as several component and equipment factories, making South Korea the world’s largest semiconductor settlement.
A spokesperson for Samsung Electronics confirmed plans to build five semiconductor factories while the company was trying to meet the target investment amount.
The plan was announced by South Korean President Yoon Sok-yeol while chairing an economic policy meeting. He said: “Advanced industries are the main growth engines as well as security and strategic assets, directly related to our employment and livelihood of the public. We already have world-class technology and production capacity in many areas such as memory chips and OLED panels. Public-private investment should be strongly supported to spur growth.”
Yin Ziyu said the government will build 14 national advanced industrial parks with a total area of more than 33 million square meters in the periphery of the capital region to cultivate space, future vehicles and hydrogen energy industries; The government is also promoting the development of 3.2 trillion won before 2030 in next-generation semiconductor technologies for power generation, artificial intelligence (AI), and more.
Another goal of the South Korean government is to support and cultivate 10 fabless semiconductor companies with annual revenue in excess of 1 trillion won.
South Korea is looking to improve supply chain stability and become a major producer of non-memory chips. The country currently houses the world’s two largest memory chip makers, Samsung Electronics and SK Hynix, but the non-memory chip sector is dominated by TSMC and Intel.
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