Samsung to invest $230 billion to build “mega” chip cluster

By KIM TONG-HYUNG
Associated Press

SEOUL, South Korea (AP) — Samsung Electronics said Wednesday it expects to invest $230 billion over the next 20 years as part of an ambitious South Korean national project to build the world’s largest semiconductor manufacturing base near the capital, Seoul. The Ministry of Trade, Industry and Energy said the chip-making “mega cluster” will be established in Gyeonggi Province by 2042. It will be anchored by five new semiconductor plants built by Samsung and aims to attract 150 other companies producing components or materials or designing high-tech chips. A giant in the global memory business, Samsung is investing in advanced chips to meet soaring demand due to the adoption of new technologies such as 5G wireless networks and self-driving cars.