Wednesday, March 15, 2023 – 7:30 pm
South Korea announced on Wednesday that it will build the world’s largest chip center using $230 billion in private investment, most of which belongs to Samsung, as the country seeks to excel in the sector.
The plan is part of the South Korean government’s push to invest heavily in six key technologies, including chips, displays and batteries.
South Korean President Yoon Seok-yeol told an economic policy meeting that his country will “build the world’s largest complex of semiconductor systems in metropolitan areas using a huge private investment of 300 trillion won.”
“Speed is important,” he added, according to a transcript provided by his office. The government will do everything possible to implement the project.”
Samsung said in a statement sent to AFP that it plans to invest 300 trillion won in the complex area over the next two decades.
The South Korean Ministry of Industry said the project should be completed by 2042.
Most of the world’s most advanced microchips are made by just two companies, Samsung and Taiwan’s TSMC.
