It is understood that the South Korean government said on Wednesday that it will implement a new investment plan, focusing on supporting the development of chips, batteries, robots, electric vehicles, displays and biotechnology.。The blueprint includes the creation of a semiconductor manufacturing center to house the giant plant and house design firms and material suppliers, aiming to strengthen South Korea's own supply chain.。

In addition, Samsung Electronics Co..), including large South Korean companies, will also join the investment plan.。The South Korean government says it will invest about $422 billion in chips and electric vehicles by 2026, which is South Korea's most aggressive key technology investment plan to date.。

The latest investment plan provides an initial boost to Samsung's chip development, and the world's largest memory maker is investing heavily in its foundry capabilities to challenge its bigger rival, TSMC, to compete for the position of a global chip manufacturing center。

As the core part of the investment plan, it is reported that Samsung now plans to spend about 300 trillion won (about $229 billion) in the next 20 years to build a new chip cluster in the suburbs of Seoul.。Specifically, the company plans to build five chip foundries in a new chip cluster in Longren City by 2042 to attract more than 150 local and foreign chip companies.。

Meanwhile, Samsung has been aggressively expanding its local state-of-the-art South Korean plant in Pyeongtaek, with plans to build a new foundry in Tyler, Texas, by 2024.。In addition, the company has been considering several possibilities for building future plants in places like Texas and Europe.。

Previously, the risk of relying on global supply chains for key technologies due to the shortage of chip supplies caused by the epidemic。Policymakers in several countries are currently investing billions of dollars to build domestic manufacturing supply chains.。The U.S. has been dominating the building of indigenous chip-making capacity, but chipmakers are now weighing the strings attached to government support.。