South Korea plans ‘world’s largest’ $230B Samsung chip factory to rival US subsidies

Samsung iSouth Korean investors will receive more than $230 billion Semiconductor Production facilities will be built over the next twenty years to help us build the biggest chip factory in the globe.

The plan will include support by the South Korean government. This includes the construction of five new factories and the attraction related businesses to a cluster located near Seoul.

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“The economic battlefield, which recently began with chips, has expanded. Countries are providing large-scale subsidies and tax support,” South Korean President Yoon Suk Yeol Wednesday

Samsung’s expansion in South Korea follows several other countries trying to increase their presence on the chip market, following an international shortage in the wake of the pandemic. The CHIPS Act was passed by the United States. It provided $52 billion for chipmakers to help them build factories in the United States.

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The historic investment will represent a major expansion for South Korea’s Samsung. considered The world’s largest memory chip manufacturer. Taiwan Continue reading Although the United States is the largest producer of chips in the world, other countries are trying to take their place.

The United States of America is also Take into account In order to prevent Chinese accessing advanced technology, South Korean companies in China are being limited in their production capabilities.