South Korea to build ‘world’s largest’ chip center with $230 billion investment from Samsung
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Loading... - Mi-yeon Lang
- 05 May 2023
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South Korea says it will build an enormous facility to make computer chips in the greater Seoul area, with about $230 billion in investment from memory chip giant Samsung Electronics. The plans were announced by President Yoon Suk Yeol on Wednesday and confirmed by the electronics giant.
“We will build the world’s largest new ‘high-tech system semiconductor cluster’ in the Seoul Metropolitan area based on large-scale private investment of almost 300 trillion Korean won,” he said. “In addition, we will grow the ‘semiconductor mega cluster’ to the world’s largest in connection with the existing memory semiconductor manufacturing complexes.”
ASML Holding logo is seen at company's headquarters in the Netherlands in January 2019. A government statement said the chip cluster would be located in Gyeonggi province, which is part of the Seoul Metropolitan area, and the total investment would be completed in about 20 years.
In order to protect intellectual property, the country will revise its Industrial Technology Protection Act, according to the statement, which did not offer additional details. Last May, Samsung (SSNLF) outlined a plan to pour more than $350 billion into its businesses and create tens of thousands of new jobs through 2026. It said it would primarily invest in core businesses such as chipmaking and biopharmaceuticals. It wasn’t immediately clear whether the previously announced investment would overlap with the one announced Wednesday by the government. Read More…
