The center will be the largest in the world and will be capable of producing 7.7 million chips monthly by 2030. $471 billion will be invested in this project.
The world’s largest chip manufacturing center will be built in South Korea. A number of leading companies such as Samsung Electronics Co. and SK Hynix Inc. plans to spend $471 billion on the project. Bloomberg reported this on Monday, January 15.
The country’s government presented a plan that provides this amount of investment from the private sector until 2047. These funds will be used to build 13 chip factories and three research centers – in addition to the already existing 21 enterprises.
The complex is expected to cover an area from Pyeongtek to Yongin. It will be the largest in the world and is capable of producing 7.7 million chips monthly by 2030.
The Korean government, working closely with private companies, is increasing support for the domestic chip manufacturing sector, which accounts for about 16% of total exports.
While Japan and Taiwan are investing in their own chip industries, the Korean government is committed to providing substantial tax incentives to domestic chip companies.
It was previously reported that China will create a $40 billion fund for the production of microchips.
The EU plans to invest more than 100 billion euros in chip production on its territory
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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.