00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Samsung Electronics and SK Hynex plan to invest more than $500 billion in a new chip-making hub
00:08in southwestern South Korea, according to the Wall Street Journal. The initiative,
00:12announced by the South Korean government Monday, calls for four new memory chip plants outside
00:17the Seoul region. Samsung and SK Hynex said they would each invest about $260 billion in the hub.
00:24Another $53 billion will go toward chip packaging facilities in the central region.
00:30The investment comes as demand for memory chips rises due to AI systems and global shortages.
00:35South Korea said the project is part of three megaprojects focused on semiconductors,
00:41AI data centers, and AI-driven robotics. President Lee Jae-myung said the government
00:46will offer tax incentives and other aid. For all things money, visit Benzinga.com.
Comments