This post is also available in:
简体中文 (Chinese)
The South Korean government announced an investment of more than $470 billion to build the world’s largest chip manufacturing cluster and strengthen domestic security of supply.
The blueprint includes a private sector investment of 622 trillion won by 2047 to build 13 new chip factories and three research facilities. The region spans Pyeongtaek to Yongin and is capable of producing 7.7 million wafers per month by 2030.
The South Korean government has worked closely with businesses to support the chip industry, which accounts for 16% of total exports, and has pledged to protect key economic sectors from global competition. The government will provide significant tax breaks to encourage investment by local chip companies.
As part of a two-decade plan, Samsung and Hynix will build state-of-the-art chip factories aimed at increasing South Korea’s semiconductor self-sufficiency and increasing the global logic chip production market share from 3 %提高到10%.
(Source: Bloomberg Image source: freepik)
