Samsung will invest $230 billion by 2042 in its chip manufacturing base
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South Korean technology giant Samsung Electronics plans to invest $230 billion over the next 20 years to develop the world’s largest chip manufacturing base.
Reuters writes about it.
The Samsung project, worth about 300 trillion won, is part of a 550 trillion won private sector investment plan unveiled by the government on Wednesday.
Seoul’s strategy aims to expand tax incentives and support to increase the competitiveness of high-tech sectors, including those related to the production of chips, displays and batteries.
The plans come as other countries introduce steps to support their chip industries, including the United States, which last month unveiled details of its CHIPS law, offering billions in subsidies for chip makers that invest in the country.
Samsung’s manufacturing facilities will include five chip manufacturing plants and involve up to 150 materials, parts and equipment manufacturers, semiconductor research and development organizations near Seoul.
In addition to private sector investment, the government will allocate 25 trillion won or more over five years for research and development in strategic technologies such as artificial intelligence.
About 360 billion won will be allocated this year for the development of chip packaging, as well as about 100 billion won for power and water supply infrastructure for industrial complexes.
In January, the government proposed to increase the rate of tax deductions for investments in chips and other strategic technologies from 8% to 15% for large corporations.
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