South Korea’s government revealed Monday that two of the world’s leading chipmakers — Samsung Electronics and SK Hynix — each intend to build a pair of large semiconductor manufacturing plants in the nation’s southwestern region.
The announcement is part of an ambitious national effort to establish a chip production “ecosystem” with a total estimated value of 800 trillion won, which equals approximately $517.87 billion at current exchange rates.
Officials unveiled the plans alongside three new so-called “mega-projects” that South Korea and these global semiconductor leaders are pursuing together, with the goal of accelerating economic growth and securing a leading position in the rapidly expanding artificial intelligence industry.
At the time of the announcement, one U.S. dollar was equal to 1,544.80 South Korean won.
