Samsung to invest in South Korea mega chip-making plan

Key Facts

• Image source, Samsung Image caption, A Samsung factory in South Korea Electronics giant Samsung says it plans to invest around 300tn won ($230.8bn; £189.6bn) over 20 years in the South Korea government's push to develop a mega semiconductor hub in the country.
• "The mega cluster will be the key base of our semiconductor ecosystem," South Korea's Ministry of Trade, Industry and Energy said in a statement on Wednesday.
• It said it planned to secure around 550tn won in private-sector investment and "leap forward as a leading country in the middle of fierce global competition over advanced industries".
• "It wants to emulate to some degree Taiwan's clustering effect, where the trifecta of science parks... form a massive cluster that has attracted numerous other companies, both upstream and downstream in the supply chain," he said.

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