Samsung helps to develop a mega semiconductor hub in South Korea
Samsung plans to invest $230.8bn over the next 20 years to build five new chip factories as part of South Korea's push to develop a mega semiconductor hub in the country. The move comes as South Korea aims to become a leading country in global competition for advanced industries, offering incentives such as tax breaks and infrastructure support to high-tech companies. The plan aims to replicate Taiwan's successful clustering effect in the semiconductor industry, which has attracted numerous other companies both upstream and downstream in the supply chain. South Korea's Ministry of Trade, Industry and Energy expects to secure around 550tn won in private investment.
by Ana Machado
Samsung has announced plans to invest $230.8bn over the next 20 years in South Korea’s push to develop a mega semiconductor hub in the country, which will involve building five new chip factories. The move comes as part of South Korea’s plan to become a leading country in the global competition over advanced industries, offering incentives such as expanded tax breaks and infrastructure support to companies in high-tech industries. The plan aims to emulate Taiwan’s clustering effect in the semiconductor industry, which has attracted numerous other companies both upstream and downstream in the supply chain. The semiconductor industry is at the centre of a dispute between the US and China, with export controls imposed by Washington leading China to call the US a “tech hegemony”.
The investment will be used to construct five new chip factories. The South Korean government aims to offer incentives to high-tech companies, including tax breaks and infrastructure support. The Ministry of Trade, Industry and Energy stated that the proposed semiconductor hub would be the key base for the country’s semiconductor ecosystem. South Korea aims to secure around 550tn won in private investment and become a leading country in the global competition for advanced industries.
Samsung is a South Korean multinational conglomerate headquartered in Seoul. It was founded in 1938 by Lee Byung-chul as a small trading company. Over the years, Samsung has grown to become one of the world’s largest electronics companies, with subsidiaries and affiliated businesses in construction, shipbuilding, finance, and more.
In the 1960s, Samsung expanded its business operations into electronics, and in the 1980s it began to focus on semiconductors and other high-tech products. In the 1990s, the company became a major producer of memory chips and other components used in personal computers and other electronics.
In the early 2000s, Samsung entered the smartphone market with its Galaxy series, competing against other major players such as Apple and Nokia. The company quickly became one of the top smartphone manufacturers in the world, and it has continued to innovate and expand its product offerings in recent years.
Samsung has faced numerous legal and ethical challenges over the years, including allegations of bribery, labor abuses, and patent infringement. However, the company has also been recognized for its sustainability initiatives and philanthropic efforts, including its support for education and disaster relief efforts around the world.
Samsung is a multinational conglomerate that operates in various industries, including electronics, semiconductors, construction, finance, and more. In the technology industry, Samsung is best known for its consumer electronics products such as smartphones, tablets, TVs, and home appliances.
In the smartphone market, Samsung is one of the largest manufacturers in the world, producing popular models such as the Galaxy S and Galaxy Note series. They also have a significant presence in the tablet market with products such as the Galaxy Tab.
Samsung is also a major player in the semiconductor industry, producing memory chips, processors, and other components used in various electronic devices. Their semiconductor division is a major supplier to companies such as Apple and Qualcomm.
In addition to hardware products, Samsung also develops software and services such as the Bixby voice assistant, Samsung Pay, and the SmartThings home automation platform.
Overall, Samsung is a diversified technology company with a strong presence in various industries, and they continue to innovate and push the boundaries of what is possible with technology.
About the author / Ana Machado
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