Samsung is building the world's largest chip factory in South Korea for $228 billion
The new facility will be the world's largest semiconductor complex.
Samsung is one of the biggest tech companies on the planet. Based in South Korea, the brand’s offerings span from smartphones, to televisions, audio equipment, and a lot more. Like other major players in the tech industry, its production habits revolve around the availability of semiconductors. As part of a major expansion, Samsung will invest $228 billion into building a new semiconductor facility, which will be the largest in the world.
Samsung announced this week that it would spend 300 trillion Korean Won ($228 billion USD) to develop a massive chip factory in South Korea, as CNBC reported. The spending will happen over the better part of two decades, wrapping up in 2042. When it’s all said and done, this new chip factory will be the biggest in the world. A spokesperson for Yoon Suk-yeol, the president of South Korea, shared a statement about Samsung’s ambitious new plan.
Source: Samsung
The availability of semiconductors, or the lack thereof over the past few years, have been arguably the biggest ongoing issue in the technology industry. Production and supply were severely hampered by the pandemic, and its global impact is well documented here on Shacknews. Samsung has been one of the many companies forced to navigate the chip shortages, and is looking to help alleviate the issue with this new complex in South Korea.
As plans begin to developer Samsung’s massive new chip factory, we’ll be watching closely to see how it impacts the company’s business. For more on the tech giant, be sure to bookmark our Samsung topic page.
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replyDonovan Erskine posted a new article, Samsung is building the world's largest chip factory in South Korea for $228 billion
