Chipmakers Samsung and SK Hynix said they each plan to build two new chip plants as part of a government-backed 800 trillion won ($519.79, £392bn) project to expand the country’s semiconductor infrastructure.
The chip investments are part of the government’s Three Mega Projects initiative announced on Monday, which includes a total investment of at least $880bn into semiconductors, AI data centres and robotics.
The plan has a priority to help develop areas outside of Seoul, where most high-tech industries are currently concentrated, president Lee Jae-myung said.
Image credit: GlobalFoundries
‘Triple axis’
