South Korea plans to develop a new semiconductor production base in the country's southwestern region through 800 trillion won (US$517.9 billion) in corporate investments, Industry Minister Kim Jung-kwan said Monday.

Samsung Electronics Co. and SK Hynix Inc. are each expected to build four to five semiconductor fabs in the Gwangju area.

Chip giants poised to announce as much as 2,000 trillion won (S$1.7 trillion) in fresh investments over a ten year period. Read more at straitstimes.com. Read more at…