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South Korean government counts on the investment to boost the country's technology industry
Samsung has announced that it plans to make a series of investments totaling US$230 billion over the next 20 years to promote the manufacture of semiconductor chips. With this investment, the South Korean company aims to build the largest semiconductor chip factory in the world.
According to Adrenaline, the plan was presented by Samsung this Wednesday (15), in response to increased competitiveness in other countries, such as India and the United States. These countries began offering tax breaks to attract substantial investment in the semiconductor chip industry. then the South Korea's government is relying on such spending to boost the country's technology industry.
150 companies in the semiconductor chips sector should be attracted by investments
According to the current quotation, the amount invested is equivalent to around R$ 1,2 trillion and will allow Samsung to be able to fulfill the plan to build five new chip production units. According to the South Korean government, the amount spent will guarantee that around 150 new companies in the sectors of materials, equipment for manufacturing chips and research are attracted to the country.
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Other subsidiaries of the tech giant, such as Samsung Display and Samsung SDI, have plans to invest KRW 60,1 trillion over the next 10 years to contribute to technological advances in displays and batteries. The amount that will be invested by other sectors of Samsung is equivalent to approximately R $ million 238, considering the current exchange rate for the South Korean Won, the official currency of South Korea.
About $19,17 BILLION will be invested by the South Korean government in research and development
The South Korean government released a private investment model of around 500 trillion South Korean Won. The value can be converted to US $ 383 billion according to the current quotation, and will serve as fiscal support and incentive. The objective is to increase competitiveness among high-tech industries, in the battery, screen and semiconductor chip sectors to leverage the business situation in the country.
Not only will Samsung invest in the sector, but the South Korean government has also announced that it will invest a total of KRW 25 trillion (US$19,17 billion). This value would be used to support research and development in advanced sectors, such as artificial intelligence. Of the total, KRW 360 billion will be devoted to developing chip packaging techniques and KRW 100 billion to supply electricity and water to industrial facilities.
