SK Hynix and Samsung Electronics will each build two new semiconductor fabrication plants in South Korea’s southwest region. The project is part of a government-led initiative involving a combined 800 trillion won ($518 billion) investment.
The expansion aims to meet surging global demand for advanced memory chips driven by artificial intelligence. To accelerate production capacity, the South Korean government will shorten timelines for licensing and construction.
This strategic move intends to solidify the nation’s leadership in the competitive global semiconductor market.