Samsung Electronics to invest $230 billion by 2042 to build its local chip manufacturing base
SEOUL: Samsung Electronics Co Ltd said on Wednesday it will invest about 300 trillion won ($230 billion) by 2042 to develop what the government called the world’s largest chip maker, under efforts to boost South Korea’s chip industry. The sum makes up the bulk of the 550 trillion won in private sector investment announced by the government on Wednesday under a strategy to expand tax breaks and infrastructure support to boost the competitiveness of high-tech industries including chips, displays and batteries. The Ministry of Trade, Industry and Energy said in…
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