According to Korean media reports, on March 15, the Ministry of Trade, Industry and Energy stated that South Korea will attract 300 trillion won ($229.81 billion) in investment to build a global economy in the Seoul metropolitan area. The largest semiconductor cluster to ensure competitive advantage in the field.

According to information released by South Korea’s Ministry of Trade, Industry and Energy, the above decision is part of the South Korean government’s “comprehensive plan for the revitalization of six core industries including chips, displays, batteries, biology, future cars, and robots.” The plan requires companies to invest 550 trillion won by 2026.

The proposed system semiconductor cluster will be located in Gyeonggi Province. It is expected that by 2042, Gyeonggi-do will have 5 advanced chip manufacturing plants and more than 150 materials, components, and fabless companies.

South Korea's Ministry of Trade, Industry and Energy said that the new park is nearby the chip factories of Samsung Electronics and SK Hynix, as well as some parts, equipment companies and fabless companies. Therefore, under this plan, South Korea will be able to have the world's largest large-scale semiconductor cluster.

South Korean President Yoon Seok-yue said: "Cutting-edge industries are the core growth driver, as well as security and strategic assets, directly related to our employment and the lives of our people. We already have world-class technology and production The government must firmly support private sector investment to promote further growth.”

Yin Xiyue said that the Korean government will also build 14 national advanced industrial parks with a total area of ​​more than 33 million square meters outside the capital area to cultivate space, future automobile and hydrogen industries. Before 2030, the Korean government also plans to invest 3.2 trillion won in developing next-generation semiconductor technologies needed for power generation, automobiles, artificial intelligence, etc. The Korean government will also expand support for prototype production and cultivate 10 fabless companies with annual sales exceeding 1 trillion won.

"The proposed large-scale cluster will host the entire semiconductor value chain. The government will work closely with companies to implement measures to become a leader in the global system semiconductor industry smoothly and without hindrance," South Korea's Ministry of Trade, Industry and Energy said in a press release.