KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
No Result
View All Result
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home Semiconductor

South Korea to build the world’s largest semiconductor cluster by 2042

 8 total views,  1 views today

megha besuccess by megha besuccess
PUBLISHED: March 17, 2023 UPDATED: March 17, 2023
in Semiconductor
0
South Korea to build the world’s largest semiconductor cluster by 2042

South Korea plans to build the world’s largest semiconductor cluster within the next 20 years with Samsung Electronics’ assistance. The mega cluster is perceived to alleviate high-tech semiconductor technology. By 2042, the facility will be operational in Gyeonggi Province, near the capital city of Seoul. 

According to the Ministry of Trade, Industry and Energy, this Gyeonggi cluster will attract more than 150 companies dealing in delivering raw materials, and components as well as designing high-tech semiconductors. South Korea aspires to be a global semiconductor powerhouse in the next few decades. 

For the South Korean government, the Gyeonggi cluster is one part of their main plan which calls for an extra lookout and advancements in 6 defined sectors. These sectors consist of semiconductors, robotics, electric vehicles, batteries, biotechnology and lastly display. Each sector would be receiving funds or investment in coming years via government and even private tech partners.  

The South Korean state realizes the technology industries are the future. Technological developments are going to be the key element in economic as well as social growth. So, supporting industries involved in the technical sphere is a satisfactory step. 

The South Korean government has been endorsing investments from private companies that could rouse the existing semiconductor market which had experienced shock waves from a globally spread out slowdown. Subsequently, Samsung Electronics, one of the biggest tech-based corporations in South Korea has come forward. 

Samsung Electronics has taken the commitment to build the mega semiconductor cluster of Gyeonggi. The company will be spending about $230 billion in the next couple of decades for accomplishing the giant project. There are a bunch of ingredients needed to be integrated with chip making, so to settle everything in one place, Gyeonggi has been thought to be anchored with five semiconductor plants Samsung.

Samsung is a company with a sound background in manufacturing a range of devices and gadgets. It’s putting work to keep up with the soaring demand for advanced semiconductors and related technologies such as AI. The new semiconductor plant has been marked around the already functioning Samsung factories. Memory-based semiconductors and login semiconductors would be the target production of the upcoming plant. 

It’s foreseen that establishment of the Gyeonggi cluster will facilitate South Korea’s semiconductor industry in competing against its Taiwanese counterpart. Taiwan Semiconductor Manufacturing Company Limited (TSMC), one of the major contributors in global semiconductors, holds a huge share of dominance along with Samsung. TSMC recorded a market share of 58% in the global semiconductor market. 

On the other hand, Samsung held up to 15% shares around the globe. The new mega cluster will give Samsung a chance to step up its game, carry out constant technological developments and get a better grip on the global semiconductor market.

In the South Korean economy, the semiconductor or chip industry has made a significant amount of contribution. With the building of mega clusters, this industry can double its output and also develop its indigenous research and development centre like Berlin-based Interuniversity Microelectronics Centre (IMEC) that studies smart energy and cost-effective ways to utilize smart energies on a larger level. 

The upcoming mega cluster will not only have a positive influence on the semiconductor industry but also on other interconnected high-tech industries such as ICT, defense, next-generation mobility and energy. Thus, the government will be focusing on building cluster infrastructure as quickly as possible. 

AI technology is going to be on the priority table for the next 10 years or so. The Korean government also plans to support 10 fabless companies that could generate annual sales crossing 1 trillion won. South Korea will try to secure higher ranks in the worldwide semiconductor market through joint technology and research in collaboration with private partners. 

What’s your thoughts?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
Tags: AI TechnologyChipGyeonggisemiconductor plant

Related Posts

Samsung Electronics to nurture semiconductor talent via partnership with 3 regional institutes in Korea
Semiconductor

Samsung Electronics to nurture semiconductor talent via partnership with 3 regional institutes in Korea

March 28, 2023
South Korea’s chip inventory surges to highest in 26 years
Chips

South Korea’s chip inventory surges to highest in 26 years

March 6, 2023
Samsung beats Intel to become the largest semiconductor company
Chips

Samsung beats Intel to become the largest semiconductor company

February 3, 2022
Korea to expand bilateral ties with the U.S. to resolve semiconductor shortage
Semiconductor

Korea to expand bilateral ties with the U.S. to resolve semiconductor shortage

November 20, 2021
Chip shortage issue gets serious as it affects Hyundai investments
Hyundai Motor Co.

Chip shortage issue gets serious as it affects Hyundai investments

October 28, 2021
Samsung to produce industry’s first 3 Nano chipsets in 2022
Samsung Electronics

Samsung to produce industry’s first 3 Nano chipsets in 2022

October 9, 2021
No Result
View All Result

Follow Us

FREE NEWSLETTER




PRODUCTS

Most Popular

  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • Top South Korean Tech Products to Look Out for in 2021

    0 shares
    Share 0 Tweet 0
  • Robots to help Police Patrol in South Korea

    0 shares
    Share 0 Tweet 0
  • South Korea plans Urban Air Mobility Air Taxi services by 2025

    0 shares
    Share 0 Tweet 0
  • 5 All-Time Best Rom-Com K-Dramas to Watch

    0 shares
    Share 0 Tweet 0
  • SK On to introduce South Korea’s first LFP Battery Prototype

    0 shares
    Share 0 Tweet 0
  • Outsourcing by Samsung to China Feared by Phone Parts Suppliers

    0 shares
    Share 0 Tweet 0
  • South Korea to commercialize Quantum Cryptography Communications

    0 shares
    Share 0 Tweet 0
  • Top Eight Promising EdTech Startup Companies in South Korea

    0 shares
    Share 0 Tweet 0
  • Netmarble subsidiary Metaverse Entertainment’s K-Pop virtual girl band MAVE has a smashing online debut

    0 shares
    Share 0 Tweet 0
  • About Us
  • Account Page
  • application form
  • Cookie policy
  • Default Redirect Page
  • homepage
  • Login
  • login form
  • LogOut
  • Newsletter
  • Privacy Policy
  • Register
  • Reset Password
  • Sample Page
  • Subscription Plan
  • Terms of Use
  • test
  • test
  • testpage
  • TOS Page
  • Visitor Inside User Page

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |