Samsung's $230 billion investment in 5 new chip factories conclude in 2042
- 02:18 20/03/2023
DNHN - Samsung will construct a new cluster of semiconductor factories in South Korea as part of a global race to secure chip industry supply chains.
Samsung Electronics announced on March 15 that it will build five new semiconductor chip factories in South Korea with a government investment of 300 trillion won (USD 230 billion) over 20 years. The investment will conclude in 2042
This action is viewed as part of a global race to secure chip industry supply chains.
The sum represented the majority of the 550 trillion won in private sector investment that the Korean government had announced. To increase the competitiveness of high-tech industries related to chips, displays, and batteries, the nation will implement a strategy of expanding tax breaks and infrastructure investments.
The Korean government will invest 550 trillion won ($422.85 billion) in six key areas between now and 2026: semiconductor chips, displays, secondary batteries, biology, and compatible vehicles. robots and hybrids. In which the private sector will take the lead.
The world's largest high-tech system semiconductor chip manufacturing industrial cluster, led by Samsung, is planned for Yongin city, Gyeonggi province, on an area of 7.1 million m2 with private investment of up to 300,000 billion won (equivalent to 300,000 billion won). equivalent to $230.65 billion).
This industrial cluster will have five semiconductor chip factories by 2042, to attract up to 150 companies in the fields of materials, components, equipment, and Fabless companies (specializing in Fabless companies). design of semiconductor chips) within this industrial cluster.
The new complex will be located near existing chip manufacturing facilities operated by Samsung Electronics Co. and SK hynix Inc., as well as several parts and equipment companies, and operating fables companies, so that South Korea can become the world's largest chip super company.
In addition to private sector investment, the government will provide a budget of at least 25 trillion won ($19 billion) over five years for strategic technology research and development, such as artificial intelligence.
This year, the government will also provide approximately 360 billion won ($275 million) for chip packaging development and approximately 100 billion won ($76 million) for industrial complexes' electricity and water infrastructure.
The Korean government proposed in January to increase the tax deduction rate for facility investments in chips and other strategic technologies for large corporations from 8% to 15%.
Over the next ten years, Samsung Electronics, Samsung Display, and affiliates Samsung SDI and Samsung Electro-Mechanics plan to invest 60.1 trillion won ($46 billion) in non-metropolitan areas. Seoul will create packaging technologies for chips, displays, and batteries.
In addition to South Korea, other nations have announced plans to strengthen their domestic chip industries. In the United States, for instance, the government has just enacted the CHIPS Act, which provides billions of dollars in subsidies for chip manufacturers to invest in the country.
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