Samung joins South Korean govt's $400 billion bid to lead in key tech

The company plans to build five memory and foundry fabs in a new chip cluster in Yongin by 2042, where it seeks to attract more than 150 local and foreign chip companies

South Korea’s largest companies including Samsung Electronics Co. will join a government plan to pour some $422 billion into fields including chips and electric vehicles by 2026, the country’s most aggressive effort to date to stake out pivotal technologies.
 

That would provide an initial kick for Samsung, which now plans to spend about 300 trillion won ($229 billion) over the next two decades to build a new chip cluster on the outskirts of Seoul. The world’s largest memory maker is investing heavily in its foundry capabilities in a bid to challenge far-bigger rival Taiwan Semiconductor Manufacturing Co. as the center