Samsung Electronics said Wednesday it expects to invest 300 trillion won ($230 billion) over the next 20 years as part of an ambitious South Korean national project to build the world’s largest semiconductor manufacturing base near the capital, Seoul.
FILE - The logo of the Samsung Electronics Co. is seen at its office in Seoul, South Korea, Tuesday, Jan. 31, 2023. Samsung Electronics said Wednesday, March 15, 2023, it expects to invest 300 trillion won over the next 20 years as part of an ambitious South Korean national project to build the worlds largest semiconductor manufacturing base near the capital, Seoul.
Samsung’s new plants will be located near its existing domestic factories and will produce both computer memory chips used for storing data and higher-margin logic chips designed to perform a broader range of functions, the company said. The semiconductor cluster is part of broader government plans announced Wednesday to promote six key technology industries the country sees as most crucial for its export-dependent economy. Apart from semiconductors, they include rechargeable batteries, electric vehicles, robotics, displays and bio-technology. The government hopes to draw 550 trillion won in corporate investment on those projects through 2026.
“ has world-class manufacturing capabilities and technologies in various high-tech industries such as semiconductors, secondary batteries, and displays, but support and regulatory conditions have been insufficient,” the Trade Ministry said in a statement.
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