Samsung, SK hynix to Invest $252.5 Billion in AI-Led Growth in Chungcheong Area
نظرة سريعة
- Samsung Electronics and SK hynix will invest a combined 240 trillion won ($155 billion) in South Korea's Chungcheong region to build AI-focused facilities, including HBM fabs and packaging plants.
- This initiative is part of a government strategy to foster AI-led growth and establish the region as an industrial hub.
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SEOUL, July 2 (Yonhap) -- An industrywide 392 trillion-won (US$252.5 billion) investment will be injected into the central Chungcheong area, including high bandwidth memory (HBM) fabs and packaging facilities by Samsung Electronics Co. and SK hynix, as part of the government's drive to spread artificial intelligence (AI)-led growth, the industry ministry said Thursday.
It is a follow-up plan to the government's tripolar mega projects, unveiled by President Lee Jae Myung earlier this week, aimed at advancing technologies across the country and turning South Korea into an industrial powerhouse in the emerging AI era.
According to the Ministry of Trade, Industry and Resources, Samsung Group pledged to invest a total of 140 trillion won in Chungcheong Province to build an HBM fab and packaging facility by Samsung Electronics, as well as an organic light-emitting diode and next-generation display production line by Samsung Display Co.
Samsung Electro-Mechanics will construct high-performance package substrate facilities for AI servers and Samsung SDI Co. will build an advanced battery manufacturing factory.
SK hynix announced that will invest 100 trillion won in building a NAND flash and advanced packaging fab, while pharmaceutical giant Celltrion Inc. pledged to invest 2 trillion won in a bio pharmaceutical manufacturing plant.
Other companies also invest a combined 150 trillion won in an AI data center in Chungcheong.
To support the investment pledges, the industry ministry unveiled a strategy that includes tax incentives, policy financing, administrative support and government subsidies.
The government also pledged to foster a region-based industrial ecosystem where companies can carry out all stages of their business locally, from recruitment, education and research and development (R&D) to manufacturing.
"The Chungcheong region has long been known as a transportation hub where people, technology and industry converge," Industry Minister Kim Jung-kwan said. "Growth in Chungcheong's advanced industries will drive growth in South Korea's industry as a whole."
