Samsung will invest $230 billion in chip manufacturing of South Korea by 2042.
$230 billion for local chip manufacturing by 2042; Image: SamMobile
Samsung will invest $230 billion in chip manufacturing in South Korea by 2042. Samsung's plan came about as the South Korean government holds out the prospect of subsidies to boost the local chip industry and be more independent from other countries.
Samsung's 300 trillion won plan is part a 550 trillion won plan unveiled today by the government. The subsidies include tax breaks for corporations. These are intended to strengthen the competitiveness of chips, displays and batteries against foreign countries.
South Korea's two largest chipmakers, Samsung and Hynix, will make heavy use of the subsidies to keep up with TSMC and Intel, which benefit from subsidies from the U.S. government.
