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Samsung Electronics plans to invest 300 trillion won by 2042 to build five new chip manufacturing plants to build the world's largest semiconductor ba

Update time : 2023-03-18 11:49:01

According to Yonhap News Agency today, South Korean tech giant Samsung Electronics is expected to invest 300 trillion won in the next 20 years to develop the world's largest chip manufacturing base as described by the South Korean government, thus promoting the development of the South Korean chip industry.
South Korea's Ministry of Industry, Trade and Resources announced plans to invest 550 trillion won by 2026 (IT Home Note: currently about 2.89 trillion yuan), including about 300 trillion won from Samsung Electronics, to build five semiconductors in South Korea 's manufacturing base. In addition, Samsung Electronics, Samsung Display, Samsung SDI, Samsung Electric said they plan to invest 60.10 trillion won in areas outside the capital circle in the next 10 years to develop chip packaging, display and battery technology.
According to reports, Samsung's new manufacturing facility will include five chip factories and will attract up to 150 manufacturers of materials, components and equipment, IC design plants and semiconductor R&D institutions. Officials said the new campus will be located near Samsung Electronics' and SK Hynix's existing chip factories, as well as several parts and equipment plants, aiming to make South Korea the world's largest semiconductor factory. In addition, the South Korean government will also cultivate 10 IC design companies with annual revenues exceeding 1 trillion won. In addition, South Korea will provide a budget of more than 25 trillion won for research and development of strategic technologies such as artificial intelligence within five years. This year, it will invest 360 billion won in semiconductor packaging development and 100 billion won in power and water infrastructure in industrial parks.
The South Korean government will also expand tax incentives and support the competitiveness of high-tech industries, including chips, displays and batteries. Of course, other countries are also taking steps to boost the domestic chip industry, including details of the CHIPS Act announced by the United States last month, which provides billions of dollars in subsidies for chipmakers investing in the United States. South Korean President Yoon Seok-hyuk told an economic policy conference that advanced industries are core growth engines and security and strategic assets that are directly related to South Korean jobs and livelihoods. " The economic battleground that started with chips has recently expanded… countries are providing massive subsidies and tax support. (We) must also support private investment to ensure further growth… governments must provide site selection, R&D, manpower and tax support. "
Yoon said the South Korean government will build 14 national advanced industrial parks outside Seoul, with a total area of more than 33 million square meters, to cultivate aviation, smart vehicles and h ydrogen energy industries. In addition, by 2030, the South Korean government will invest 3.20 trillion won to develop next-generation semiconductor technology for power stations, artificial intelligence and other fields.

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