South Korea plans ‘world’s largest’ $230B Samsung chip factory to rival US subsidies
Christopher Hutton
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Samsung intends to invest more than $230 billion into South Korean semiconductor production facilities over the next 20 years in hopes of building the largest chip factory in the world.
The plan, which will include support from the South Korean government, includes building five new factories and attracting related businesses to a cluster of facilities 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 said on Wednesday.
Samsung’s expansion in South Korea comes as several countries attempt to expand their presence in the chip market after an international shortage during the pandemic. The United States passed the CHIPS Act, which provided $52 billion to chipmakers to encourage them to build factories in the United States.
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The investment will be a historic expansion for South Korea-based Samsung, which is considered the world’s biggest memory chipmaker. Taiwan continues to be the largest manufacturer of chips worldwide, but other countries are attempting to compete.
The United States is also considering limiting the production abilities of South Korean companies within China in hopes of inhibiting Chinese access to advanced technology.