Seoul, May 13 (EFE).- South Korean tech giant Samsung Electronics announced Thursday that it would invest about 171 trillion won (about $ 151 billion) in its logic chip and semiconductor manufacturing business at a time of global shortages.
The plan represents an increase of about 38 trillion won compared to the one announced in 2019, the company said in a statement. Through this strategy, Samsung expects to become the world leader in logic chips by the end of the decade.
It also aims to expand its market share as a manufacturer of integrated circuits, of which it is the second largest manufacturer in the world, although well behind the Taiwanese TSMC, which accounts for 56 percent of global orders, compared Samsung’s 18 percent. It has also said it will invest about $ 100 billion in new plants.
Samsung’s announcement comes on the same day the South Korean government has said it will provide an incentive and subsidy program to domestic chipmakers to make capital investments worth a combined 510 trillion won from here to 2030.
The plan seeks to improve the position of South Korea – whose exports depend on this sector by 20 percent – in the global market, now affected by a bottleneck.
At the same meeting where the public incentive plan was announced, South Korea’s SK hynix, the second largest memory chip manufacturer after Samsung, said it was considering doubling its foundry capacity for integrated circuits through new facilities. It also spoke of possible mergers and acquisitions, according to the country’s Yonhap news agency.
Samsung and SK hynix have their respective integrated circuit foundry plants in the United States and China. EFE