Samsung is about to launch one of the most ambitious investment programs ever: the Korean giant, in fact, intends to invest approx $230 billion over the next 20 years to build a chip manufacturing plant complex in South Korea. The project could make South Korea the new hub of global chip manufacturing.
Unprecedented maxi investment for Samsung: 230 billion dollars for the chips of the future
The details of the investment are still to be clarified but the project is already ready to go. Samsung will invest more than 230 billion dollars in a series of projects aimed at the creation of a new complex, consisting of several plants, dedicated to the production of chips.
The project will arise in surroundings of Seoul and should attract at least 150 industrial partners, between suppliers and manufacturers, who will become part of the future chip citadel. The investment will naturally have positive effects on the local economy.
Overall, the company will build at least five production plants. To make the maxi investment sustainable there will also be the support from the Korean government which has already increased the rate for the tax deduction linked to investments by large companies from 8% to 15%.
In this way, Samsung will direct its resources towards the domestic market, which is destined to become increasingly relevant for chip manufacturing activities. The project is, of course, long-term and will also include resources for research and development activities for the sector.