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White Frame Corner

Samsung Invests $230 Billion in Korea's Chip Centre

The electronics behemoth verified President Yoon Suk Yeol's Wednesday announcement.

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In 20 years, Gyeonggi province, part of the Seoul Metropolitan region, would build the chip cluster.

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To safeguard intellectual property, the Industrial Technology Protection Act will be updated.

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Samsung aims to invest $350 billion in core sectors like chipmaking and biopharmaceuticals by 2026.

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CLSA analyst Sanjeev Rana estimates Samsung's 20-year investment plans at 15 trillion won per year.

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Samsung's semiconductor, electronics, and medical industries are rising due to global chip shortages.

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Samsung Electronics' Pyeongtaek chip factory from above on September 7, 2022. Samsung/Reuters/File

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China-U.S. political and economic conflicts threaten semiconductor availability for global economies.

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Washington and Apple have urged semiconductor businesses to localise.

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