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Korea on track to become No. 2 chipmaker by 2032
Korea will claim 19 percent of the world's chip production by 2023, second only to China.
The SIA, a U.S. lobbying group comprising more than 60 companies committed to chips, published a report in partnership with Boston Consulting Group titled "Emerging Resilience in the Semiconductor Supply Chain," lauding the U.S. CHIPS Act that is expected to drive up production in the U.S. by 203 percent by 2032 compared to 2022, the largest rate of growth globally. The report added, "In the absence of [the CHIPS Act], the U.S. share in [leading-edge wafer fabrication capacity] would have slipped further to 8 percent by 2032." Korea is committing $471 billion through 2047 to build 16 new chip fabrication plants in a mega cluster near Gyeonggi with the involvement of Samsung Electronics and SK hynix.
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