Samsung to spend $228 billion on the world's largest chip facility as part of South Korea tech plan

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Samsung to spend $228 billion on the world's largest chip facility as part of South Korea tech plan
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Samsung Electronics said Wednesday it plans to invest 300 trillion Korean won ($228 billion) in a new semiconductor complex in South Korea.

The move is part of a broader push by the South Korean government to boost its prowess in areas including chips, displays, batteries and electric vehicles.

But the big focus is on semiconductors — critical components that go into everything from smartphones to cars — and that have increasingly become a geopolitical focal point. South Korea's expansive move is seen as a way to catch up with the U.S.'s own aggressive chip investments. South Korea's government aims to connect chip facilities in the area from Samsung to other companies to create a "semiconductor mega cluster." The idea is to link up various parts of the semiconductor supply chain from chip design to manufacturing.

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