Samsung Electronics To Invest $230 Bln In South Korea To Boost Chip Industry

Samsung Electronics Co. Ltd. (SMSN.L,SSNNF.OB,SSNLF.OB) plans to invest around 300 trillion won or $230 billion in chip-making industry in South Korea over the next two decades, reports said.

The investment is expected to support the country's ambition to establish itself as the world's biggest chip-making base.

Samsung's planned investment through 2042 forms a major share in the 550 trillion won private-sector investment plan unveiled by the South Korean government on Wednesday as part of Seoul's efforts to further boost the national chip-industry.

The private investment supports the government's strategy focused to boost chips, displays and batteries.

The Ministry of Trade, Industry and Energy stated that Samsung's planned manufacturing additions will include five chip factories. The investment will also attract up to 150 materials, parts and equipment makers, fabless chipmakers and semiconductor research-and-development organisations.

In addition, Samsung and its sister companies would invest 60.1 trillion won in the next 10 years outside Seoul to focus on chip packaging, displays and battery technology.

The South Korean government will also budget 25 trillion won or more over five years for research and development in technologies like artificial intelligence.

In 2023 alone, the government will provide about 360 billion won to develop chip packaging, and about 100 billion won in electricity and water infrastructure to industries.

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