Samsung Electronics, the world’s largest semiconductor product manufacturer, plans to invest $378 billion In the development of domestic enterprises until 2047. The goal is to increase the share of revenues from microcircuit production for third-party companies.

Also SK hynix plans to invest 92 billion dollars During the same period, it expanded its memory chip production facility in Yongin.

The planned industrial cluster, which will stretch from Pyeongtaek to Yongin, aims to bring together 21 existing semiconductor companies as well as carrying out new construction. 13 new objects and three research centres.

Aware of the importance of semiconductor components, which constitute 16% of the country’s exports, the South Korean government emphasizes the importance of developing the sector. Although it does not offer direct subsidies, the government is ready to provide significant tax breaks to support local businesses.

This ambitious plan is designed to encourage the participation of smaller companies engaged in both chip development and the supply of consumables for their production. The main goal is to increase the self-sufficiency of South Korean industry and increase the country’s share of global semiconductor production from the current 3% to 10% by the end of the decade.

It is clear that South Korea wants to maintain its leading position in the semiconductor market and adapt its industry to the changing demands of the world market. This was a result of the semiconductor crisis, after the largest consumers of semiconductor products decided to build their own factories to avoid dependence on suppliers.