South Korea says it will build an enormous facility to make computer chips in greater Seoul, with about $230 billion in investment from memory chip giant Samsung Electronics
The plans were announced by President Yoon Suk Yeol on Wednesday and confirmed by the electronics giant. “We will build the world’s largest new ‘high-tech system semiconductor cluster’ in the Seoul Metropolitan area based on large-scale private investment of almost 300 trillion Korean won,” he said. “In addition, we will grow the ‘semiconductor mega cluster’ to the world’s largest in connection with the existing memory semiconductor manufacturing complexes.
Sanjeev Rana, a CLSA analyst, told CNN that Samsung’s investment plans over the next two decades translates into an average of about 15 trillion won annually, which is close to its existing yearly capital expenditure. “This is in line with market expectations,” he said. Samsung is best known for its electronics division, with its popular smartphones and televisions.
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