Samsung is embarking on an ambitious project, with an investment of approximately $1.6 trillion to build a semiconductor colony in partnership with the South Korean government.

Samsung is embarking on an ambitious project, with an investment of approximately $1.6 trillion to build a semiconductor colony in partnership with the South Korean government.

In March 2023, the government announced a joint investment of 300 trillion won (around $1.6 trillion) with Samsung to establish five advanced semiconductor manufacturing plants by 2024. The goal is to create the world's largest semiconductor cluster in the Seoul metropolitan area, with over 150 domestic and foreign raw material, component, equipment, and IC design companies.

Samsung has been successful in attracting global semiconductor manufacturers to invest in the region, with executives from U.S.-based Applied Materials and Dutch-based ASML meeting with the government office of Gyeonggi Province near Seoul to discuss investment plans, infrastructure development, and tax incentives