Latest news: According to a statement from the South Korean Ministry of Industry, Trade, and Resources, South Korea plans to build the world's largest semiconductor industry cluster near Seoul. Private enterprises such as Samsung Electronics and SK Hynix have decided to invest a total of 622 trillion Korean won by 2047 to establish 16 chip factories (13 wafer manufacturing plants and 3 wafer research and development plants).

Among them, Samsung Electronics has invested a total of 500 trillion Korean won, including 360 trillion Korean won in Longren chip factory, 120 trillion Korean won in Pingze's system and chip factory, and 20 trillion Korean won in Qixing's storage research and development factory.

SK Hynix will invest 12.2 trillion Korean won to build four chip factories in Longren to produce storage chips.

According to the plan, the cluster will produce HBM, PIM, and other cutting-edge chips. By 2027, it will build three wafer manufacturing plants and two research and development plants. The goal is to produce 7.7 million wafers per month by 2030, covering an area of 21.02 million square meters, and will be the world's largest semiconductor cluster.

The South Korean government has stated that when the construction of wafer fabs within the giant cluster begins, the production of equipment and raw material manufacturers used by wafer fabs will also increase, directly creating approximately 1.93 million job opportunities and expected to drive an output value of 65 trillion Korean won. The South Korean government expects semiconductor exports to reach 120 billion US dollars this year, with private investment exceeding 60 trillion Korean won.

South Korean President Yoon Seok yeol has promised to extend the chip investment tax incentives that should have ended this year, and has also pledged support for infrastructure including electricity and water supply.

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