Samsung boosts non-memory chip investment to $151 bln as S.Korea offers bigger tax breaks

📆 13.05.2021 21:20:00
📰 Reuters

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Samsung says it will invest $151 billion in non-memory chips by 2030

The logo of Samsung Electronic is seen at its headquarters in Seoul, South Korea, April 4, 2016. REUTERS/Kim Hong-Ji

Some 153 chip companies including global No.1 and 2 memory chip makers Samsung and SK Hynix already have plans to invest a combined 510 trillion won or more between this year and 2030, according to the Korea Semiconductor Industry Association. “Countries around the world have entered fierce competition by reorganising supply chains around their own country,” South Korean President Moon Jae-in said Thursday at Samsung’s chip site at Pyeongtaek.

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S.Korea announces bigger tax breaks, loans to bolster local chip industrySouth Korea on Thursday announced bigger tax breaks plus 1 trillion won ($883 million) in loans for the local chip industry as it navigates a challenging operating environment amid a global chip shortage.
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