The government of South Korea aims to increase the nation’s chip production capacity twofold in the next five years. This entails speeding up the development of Samsung and SK Hynix plants in Yongin, along with establishing a new chip hub in Gwangju.
In late June, South Korean President Lee Jae Myung urged companies to improve local economies to match the Seoul metropolitan area and concurrently strive for leadership in the AI industry.
Samsung and its domestic competitor SK Hynix have revealed a significant industrial strategy and disclosed intentions to invest 800 trillion won ($518.3 billion) to enhance production capacity, as reported by Reuters, referencing Industry Minister.
source: reuters.com
