South Korean companies such as Samsung Electronics have joined the government‘s new plan to invest more than $420 billion in key technology fields such as semiconductors and electric vehicles

Source: Cailian News Agency

    According to Yonhap News Agency and Bloomberg News on March 14th, large South Korean companies, including Samsung Electronics, will join a government plan to invest 550 trillion won (approximately $422 billion) in key technology fields, including chips and electric vehicles.

    The South Korean government said on Wednesday that it would invest billions of dollars in fields including chips, batteries, robots, electric vehicles, and biotechnology. The blueprint includes the creation of a semiconductor manufacturing center to accommodate giant factories, as well as design companies and material suppliers, aimed at strengthening South Korea‘s domestic supply chain.

     As part of the plan, Samsung Electronics plans to invest nearly 300 trillion won (approximately $229 billion) in the next 20 years to establish a new semiconductor cluster in the Capital Circle.