South Korea is planning on spending $450 billion for the world’s largest chipmaking firm, according to Bloomberg. Korea will join the likes of China and the US in an effort to influence key technology.
Samsung and SK Hynix will lead other 153 entities in a 510 trillion won financing in optoelectronic research by 2030 in a framework supported by President Moon.
The move is aimed at protecting Korea’s most economically critical industry.
Samsung is putting in an extra 30% to make $151 billion as Hynix commits $97 billion in an expansion of four new plants in Yongin.
President Moon retaliated that Korean companies are prepared for stormy seas as great global competitors invest in becoming first in taking future markets.
US, China, and the EU are seeking to fortify their optoelectronic capacities following a global chip shortage that led to reliance on a few Asian manufacturers.
Semiconductors are Korea’s largest exports, and chip exports are likely to double to $200 billion by 2030.
Samsung and SK Hynix stocks are currently declining. 005930: KRX is up 2,04%, 000660: KRX is up 0,85%.
