Samsung Electronics Co., Ltd.
(OTC:SSNLF) and SK Hynix plan to build two new semiconductor fabrication plants each in South Korea as part of a massive national chip manufacturing initiative. $520 Billion AI Push The South Korean government announced on Monday that Samsung and SK Hynix will each build the fabrication sites in the southwest region of the country.
This move is a component of a national project aimed at creating a chip production "ecosystem" valued at 800 trillion won ($520 billion), reported Reuters.
The announcement is part of three new "mega-projects" by the South Korean government and the global chip giants, designed to stimulate growth and establish a stronghold in the AI sector.
Samsung Electronics’ stock was down 3.87%, while SK Hynix was trading 1.35% lower in Seoul on Monday morning amid earlier reports that the tech giants would announce major investment plans of up to $1.3 trillion over the next 10 years.
