Samsung to invest $230 bn to build five new chip plants in South Korea
South Korean electronics giant Samsung Electronics plans to invest about $230 billion in the country over the next 20 years to build five new semiconductor factories. The move is part of a broader government plan to invest nearly $422 billion in areas such as chips and electric vehicles.
Samsung said its new plant would be located close to its existing domestic plant. The center will produce computer memory chips used to store data and higher-margin logic chips designed to perform a broader range of functions. The company stated that it has been planning to expand its business in advanced chips owing to the anticipated increasing demand for new technologies, such as 5G wireless networks, artificial intelligence, and self-driving cars, in the forthcoming years.
In addition to semiconductors, the center will include rechargeable batteries, electric vehicles, robotics, and displays.
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