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Korea unveils plan to build $472 billion dollar mega chip cluster
Korea will build the world's biggest semiconductor cluster in Gyeonggi Province by 2047 as Samsung Electronics, SK hynix and other chip companies plan to invest a total of 622 trillion won ($472 billion) to build 16 new fabs, creating more than 3 million jobs, according to the Ministry of Trade, Industry and Energy, Monday.
President Yoon Suk Yeol speaks about the government's support plan for the semiconductor industry during a townhall meeting at Sungkyunkwan University's Natural Science Campus in Suwon, Gyeonggi Province, Monday. In tandem with the establishment of the new cluster, the government plans to streamline the national chip research infrastructure currently dispersed across Suwon, Daejeon, and Pohang through an online service named MoaFab. Additionally, the authorities aim to cultivate local talent dedicated to the industry and facilitate the entry of foreign experts into the country by adjusting visa regulations.
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