Mar. 15, 2023 /SemiMedia/ -- According to Yonhap News Agency, Samsung will invest about $230 billion to build five semiconductor manufacturing plants in South Korea by 2042 to build the world's largest semiconductor manufacturing base.

Samsung's new manufacturing facility will include five chip factories and attract as many as 150 material, component and equipment manufacturers, IC design companies and semiconductor research and development institutions. The new campus will be located near the existing chip factories of Samsung Electronics and SK Hynix, as well as various parts and equipment factories, in order to make South Korea the world's largest semiconductor cluster.

In addition, the South Korean government said it will foster 10 IC design companies with annual revenue exceeding 1 trillion won.

A spokesman for Samsung Electronics confirmed plans to build five semiconductor plants, while saying the company would try to reach the target investment amount.