https://www.cnn.com/2023/03/15/tech/korea-chips-investment-hnk-intl/index.html CNN values your feedback 1. How relevant is this ad to you? ( ) ( ) ( ) ( ) ( ) 2. Did you encounter any technical issues? [ ] Video player was slow to load content [ ] Video content never loaded [ ] Ad froze or did not finish loading [ ] Video content did not start after ad [ ] Audio on ad was too loud [ ] Other issues [ ] Ad never loaded [ ] Ad prevented/slowed the page from loading [ ] Content moved around while ad loaded [ ] Ad was repetitive to ads I've seen previously [ ] Other issues [ ] [ ] [ ] [ ] [ ] [ ] Cancel Submit Thank You! Your effort and contribution in providing this feedback is much appreciated. Close Ad Feedback Markets Tech Media Success Perspectives Videos More Markets Tech Media Success Perspectives Videos Audio Live TV Log In My Account * Settings * Log Out Your CNN account Log in to your CNN account [ ] Search Log In My Account * Settings * Log Out Your CNN account Log in to your CNN account --------------------------------------------------------------------- Live TV Audio --------------------------------------------------------------------- Edition US International Arabic Espanol Edition * US * International * Arabic * Espanol --------------------------------------------------------------------- Markets Tech Media Success Perspectives Videos Follow CNN Business * * * --------------------------------------------------------------------- * US + Crime + Justice + Energy + Environment + Extreme Weather + Space + Science * World + Africa + Americas + Asia + Australia + China + Europe + India + Middle East + United Kingdom * Politics + SCOTUS + Congress + Facts First + 2020 Election * Business + Tech + Media + Success + Perspectives + Video * Markets + Pre-markets + After-Hours + Market Movers + Fear & Greed + World Markets + Investing + Markets Now + Before the Bell + Nightcap * Opinion + Political Op-Eds + Social Commentary * Health + Life, But Better + Fitness + Food + Sleep + Mindfulness + Relationships * Entertainment + Movies + Television + Celebrity * Tech + Innovate + Gadget + Foreseeable Future + Mission: Ahead + Upstarts + Work Transformed + Innovative Cities * Style + Arts + Design + Fashion + Architecture + Luxury + Beauty + Video * Travel + Destinations + Food & Drink + Stay + Videos * Sports + Pro Football + College Football + Basketball + Baseball + Soccer + Olympics + Hockey * Videos + Live TV + Digital Studios + CNN Films + HLN + TV Schedule + TV Shows A-Z + CNNVR * CNN Underscored + Electronics + Fashion + Beauty + Health & Fitness + Home + Reviews + Deals + Money + Gifts + Travel + Outdoors + Pets + CNN Store * Coupons * More + Photos + Longform + Investigations + CNN Profiles + CNN Leadership + CNN Newsletters + Work for CNN Markets DOW S&P 500 NASDAQ Fear & Greed Index ----- is driving the US market Latest Market News Swiss central bank says it is ready to provide support to Credit Suisse Big banks experience deposit spike after Silicon Valley Bank collapse Dow falls 500 points as banking fears spread Something isn't loading properly. Please check back later. Marketplace Asia South Korea to build 'world's largest' chip center with $230 billion investment from Samsung Juliana Liu Yoonjung Seo Gawon Bae By Juliana Liu, Yoonjung Seo and Gawon Bae, CNN Updated 6:17 AM EDT, Wed March 15, 2023 Link Copied! exp GPS 0731 Mark Liu Taiwan Semiconductors_00044729.png Video Ad Feedback On GPS: Can China afford to attack Taiwan? 06:15 - Source: CNN Hong Kong/Seoul CNN -- South Korea says it will build an enormous facility to make computer chips in the greater Seoul area, with about $230 billion in investment from memory chip giant Samsung Electronics. The plans were announced by President Yoon Suk Yeol on Wednesday and confirmed by the electronics giant. "We will build the world's largest new 'high-tech system semiconductor cluster' in the Seoul Metropolitan area based on large-scale private investment of almost 300 trillion Korean won," he said. "In addition, we will grow the 'semiconductor mega cluster' to the world's largest in connection with the existing memory semiconductor manufacturing complexes." ASML Holding logo is seen at company's headquarters in the Netherlands in January 2019. ASML Holding logo is seen at company's headquarters in the Netherlands in January 2019. Eva Plevier/Reuters Europe joins the US in its chip war with China A government statement said the chip cluster would be located in Gyeonggi province, which is part of the Seoul Metropolitan area, and the total investment would be completed in about 20 years. In order to protect intellectual property, the country will revise its Industrial Technology Protection Act, according to the statement, which did not offer additional details. Last May, Samsung (SSNLF) outlined a plan to pour more than $350 billion into its businesses and create tens of thousands of new jobs through 2026. It said it would primarily invest in core businesses such as chipmaking and biopharmaceuticals. It wasn't immediately clear whether the previously announced investment would overlap with the one announced Wednesday by the government. Sanjeev Rana, a CLSA analyst, told CNN that Samsung's investment plans over the next two decades translates into an average of about 15 trillion won annually, which is close to its existing yearly capital expenditure. "This is in line with market expectations," he said. Samsung is best known for its electronics division, with its popular smartphones and televisions. In recent years, the company has leaned further into its role as a provider of semiconductors as manufacturers around the world suffer from shortages. An aerial view of Samsung Electronics' chip production plant at Pyeongtaek, South Korea on September 7, 2022. An aerial view of Samsung Electronics' chip production plant at Pyeongtaek, South Korea on September 7, 2022. Samsung Electronics/Reuters/FILE Memory chips, which have proved to be a key moneymaker for Samsung, will continue to be a focus area with further investment planned, according to the firm. In the area of high-end computer chips, Samsung competes directly with Intel (INTC) and Taiwan's TSMC. The vast majority of the world's advanced microchips are made in just two places, Taiwan and South Korea. Taiwan's industry is larger and more dominant, something South Korea is keen to challenge. The concentration of so much crucial chip manufacturing in just two places has caused concerns over global supply chain stability especially as South Korea and Taiwan are both militarily threatened by neighbors, North Korea and China respectively. Over the last few years, major economies express concern about losing access to semiconductors, particularly as political and economic tension has escalated between China and the United States. Governments, including Washington, and major companies like Apple have asked semiconductor companies to localize their operations. -- Michelle Toh contributed reporting. Related Ad Feedback More from CNN Business [220707104215-pringles-packages-file] Justin Sullivan/Getty Images Cheez-It and Pringles company gets a new name Mar 15, 2023 [230314161918-retail-february-restau] Scott Suchman for The Washington Post/Getty Images Americans pulled back on their spending in February, after a strong January Mar 15, 2023 Ad Feedback CNN Business Videos [230315171558-mark-zandi] *Video CNN Economist weighs in on the health of large US financial institutions Mar 15, 2023 [230315164246-exp-chatgpt-ai-schlomo] *Video Dovrat: ChatGPT will change the way we do business Mar 15, 2023 [230315151331-black-men-frolic-thumb] *Video @philwil_86,@brad_everett,@p.parkproductions/TikTok 'Revolutionary act of resistance': See why Black men are frolicking on TikTok Mar 15, 2023 [230315121017-exp-harry-potter-tour-] *Video Harry Potter studio tour to open in Japan this summer Mar 15, 2023 Ad Feedback Ad Feedback [ ] Search Log In My Account * Settings * Log Out Your CNN account Log in to your CNN account --------------------------------------------------------------------- Live TV Audio --------------------------------------------------------------------- * US + Crime + Justice + Energy + Environment + Extreme Weather + Space + Science * World + Africa + Americas + Asia + Australia + China + Europe + India + Middle East + United Kingdom * Politics + The Biden Presidency + Facts First + US Elections * Business + Tech + Media + Success + Perspectives + Videos * Markets + Pre-markets + After-Hours + Market Movers + Fear & Greed + World Markets + Investing + Markets Now + Before the Bell + Nightcap * Opinion + Political Op-Eds + Social Commentary * Health + Life, But Better + Fitness + Food + Sleep + Mindfulness + Relationships * Entertainment + Movies + Television + Celebrity * Tech + Innovate + Gadget + Foreseeable Future + Mission: Ahead + Upstarts + Work Transformed + Innovative Cities * Style + Arts + Design + Fashion + Architecture + Luxury + Beauty + Video * Travel + Destinations + Food & Drink + Stay + News + Videos * Sports + Pro Football + College Football + Basketball + Baseball + Soccer + Olympics + Hockey * Videos + Live TV + Digital Studios + CNN Films + HLN + TV Schedule + TV Shows A-Z + CNNVR * Audio * CNN Underscored + Electronics + Fashion + Beauty + Health & Fitness + Home + Reviews + Deals + Money + Gifts + Travel + Outdoors + Pets + CNN Store * Coupons * Weather + Climate + Storm Tracker + Wildfire Tracker + Video * More + Photos + Longform + Investigations + CNN Profiles + CNN Leadership + CNN Newsletters + Work for CNN --------------------------------------------------------------------- Audio Live TV Follow CNN Business * * * * Log In My Account * Settings * Log Out Your CNN account Log in to your CNN account --------------------------------------------------------------------- Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited. Terms of Use Privacy Policy Ad Choices Accessibility & CC About Newsletters Transcripts (c) 2023 Cable News Network. A Warner Bros. Discovery Company. All Rights Reserved. CNN Sans (tm) & (c) 2016 Cable News Network.