As the smartphone behemoth increases demand for AI-driven semiconductors, the investment will be made domestically. Samsung shares President Lee Jae Myung’s ambition for development in areas outside of Seoul, the country’s capital.
In the upcoming days, a formal announcement of the $650 billion (1,000 trillion won) package is anticipated.
SK Hynix, Samsung’s rival in the chip industry, is reportedly anticipated to reveal their expenditure plans at the same occasion.
Both Samsung and SK have made a name for themselves in manufacturing and developing cutting-edge memory chips used in data centers that train and operate artificial intelligence tools such as image generators and chatbots.
Over the past few years, both businesses have profited handsomely from the AI surge, as evidenced by their record-breaking profits and soaring stock prices. Additionally, Samsung and its workers’ union recently reached a bonus agreement to prevent a scheduled massive strike.
In Southwest South Korea, one of the regions of the nation that has received little attention from tech investment, Samsung is anticipated to build a new semiconductor plant. The 10-year plan would be the biggest capital investment that a South Korean corporation has ever disclosed. The proposed 10-year expenditure program would be the biggest investment commitment a South Korean corporation has ever made.
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