Samsung to Open Five New Local Chip Plants
Samsung plans to ramp up South Korean chipmaking capabilities. The tech giant is targeting the construction of five additional factories over the next 20 years as it moves to secure chip supplies.
The company reportedly plans to invest KRW300 trillion ($228.5 billion) in new chip plants, which it expects to draw in up to 150 related suppliers of materials, parts, and equipment, along with R&D organizations. Samsung representative said it will attempt to invest in its foundry business, which makes chips for other companies.
The investment is part of a KRW550 trillion private-sector package involving tax breaks and other measures to boost the competitiveness of local production of chips, displays, and batteries, the Ministry of Trade, Industry, and Energy noted in a statement. Samsung’s plan to build the world’s largest semiconductor hub follows moves by the US to boost its domestic chip sector and a CNY1 trillion ($144.9 billion) funding move by China in its companies.