The tech giant’s project to create one of the largest manufacturing centers in the world will be implemented over the next 20 years.
Samsung will invest $230 billion in chip manufacturing in South Korea over the next 20 years as part of a state program to develop the chip industry. Reuters reported this on March 15.
The Samsung project is said to be part of a $421.7 billion investment plan released by the government on Wednesday.
Seoul’s strategy aims to expand tax incentives and support the increased competitiveness of high-tech sectors, including chip, display and battery manufacturing.
Samsung’s facilities include five chip factories and will attract up to 150 manufacturers of materials, components and equipment.
In addition to private sector investment, the government will allocate funds for research and development in strategic technologies such as artificial intelligence.
It was previously reported that over the next decade the UK will invest 2.5 billion pounds in quantum technology.
US aims to reduce production of South Korean chips in China – media
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.