South Korea’s growth is closely tied to the technology sector in general and Samsung’s in particular. That is why the country’s Minister of Commerce, Industry and Energy has announced an investment of 422 billion dollars until 2026 in various technological areas that are very important for the country. The Government wants to create a large cluster of fifteen high-tech production industrial complexes, in which semiconductors, batteries for electric cars, autonomous vehicles, biopharmaceutics, robots and screens will be developed.
One of the main beneficiaries will be Samsung, which will allocate a large part of the subsidies it obtains from the South Korean government to the production of chips. Whatever it makes in the next few years, the company plans to spend $230 billion expanding its production in South Korea over the next two decades. That would include five new factories around Seoul.
All this investment by Samsung is added to the one it already has in progress inside and outside the country, such as the 17 billion dollars in a chip factory in Texas (USA). The new factories will be dedicated to both the production of processors and memory.