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Strengthening Supply Chain, South Korean Government Announces Largest Investment Plan In History, Samsung As Lead Entity

By epicnews desk
Strengthening Supply Chain, South Korean Government Announces Largest Investment Plan In History, Samsung As Lead Entity

South KoreaThe government on Wednesday announced its most ambitious $422 billion plan yet to push into key sectors including semiconductors and electric vehicles.SAMSUNGMajor South Korean companies will participate, including electronics.

As part of this plan, Samsung plans to invest about 300 trillion won (about US$229 billion) in new construction in Seoul’s suburbs over the next 20 years.PieceThe goal is to make South Korea a leading country in global semiconductor manufacturing.

The South Korean government said Wednesday it would spend billions of dollars on chips, batteries, robots, electric vehicles and biotech. The plan includes setting up of a semiconductor cluster. In addition to accommodating super-large fabs for the production of semiconductors, it will also be deployed to chip designers and material suppliers to strengthen South Korea’s own supply chain. Samsung’s investment will be at the heart of the plan.

International (tags to translate) South Korea (T) Chip (T) Samsung

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