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Samsung Electronics to build five new chip plants in South Korea

Government says $230bn plan to strengthen semiconductor supply chains

South Korea is home to Samsung Electronics, the world's biggest memory chip maker. (Photo by Karina Nooka)

TOKYO -- Samsung Electronics said on Wednesday that it will build five new domestic semiconductor plants in what the government said was a 300 trillion won ($230 billion) investment over the next approximately 20 years, part of the global race to secure supply chains in the chip industry.

A Samsung spokesman confirmed the construction plan and said that the company would try to invest that amount. Samsung said that some of the five plants will be for foundry chipmaking -- or making chips for outside clients -- but said that it is not decided on the total. The government said the new plants will be established in Yongin, south of Seoul, and the investment would be concluded by 2042.

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