Samsung will invest $230 billion in South Korea to create the «world’s largest» chip facility
South Korea says it will build a massive computer chip manufacturing facility in the greater Seoul area, with a $230 billion investment from memory chip giant Samsung Electronics.
President Yoon Suk Yeol revealed the plans on Wednesday, and the electronics giant confirmed later.
According to a government announcement, the chip cluster will be situated in the Seoul Metropolitan Area’s Gyeonggi province, and the overall investment would be finished in around 20 years.
According to the statement, which provided no other information, the nation will modify its Industrial Technology Protection Act to defend intellectual property.
Samsung (SSNLF) announced a plan in May of last year to invest more than $350 billion in its companies and add tens of thousands of new jobs by the year 2026. It declared that it would put most of its money into key industries like chip manufacturing and biopharmaceuticals.
The concentration of so much critical chip manufacturing in just two locations has raised concerns about global supply chain stability, especially given that both South Korea and Taiwan are militarily threatened by their neighbors, North Korea and China, respectively.
In recent years, major economies have expressed concern about losing access to semiconductors, particularly as political and economic tensions between China and the United States have risen.
Governments, including Washington, and major corporations, such as Apple, have asked semiconductor firms to relocate their operations.
