Samsung will invest $230bn in semiconductor manufacturing

Samsung is gearing up for a big investment in semiconductor manufacturing. The technology giant intends to invest more than $200 billion in chip design and production.

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Samsung is investing $230 billion in semiconductors over 20 years. The announcement comes as other governments are taking steps to support the domestic chip industry. For example, the US is offering billions of dollars in subsidies to chip manufacturers that invest in the country.

Samsung's production facilities will include five chipmaking sites. In addition, the South Korean government will allocate about $20 billion over five years for developments in strategic technologies, including artificial intelligence.

In addition, about $280 million will be allocated in 2023 to develop packaging for microchips and another $77 million to develop infrastructure for industrial complexes. Two months ago, South Korean authorities proposed raising the tax deduction rate for investments in semiconductors and strategic developments from 8% to 15%. This would apply only to large corporations.

Source: Reuters