South Korea to spend $230 billion to build ‘world’s largest’ chip center in Greater Seoul

Hong Kong/Seoul

South Korea says it will build a huge computer chip manufacturing facility in greater Seoul, with private companies investing about $230 billion.

“We will build the world’s largest new ‘high-tech system semiconductor cluster’ in the Seoul metropolitan area based on massive private investment of nearly 300 trillion won,” President Yoon Suk Yeol said on Wednesday. “In addition, we will develop the ‘semiconductor megacluster’ to be the largest in the world, integrated with the existing memory semiconductor manufacturing park.”

The Seoul metropolitan area includes the capital Seoul, the neighboring city of Incheon, and the surrounding Gyeonggi-do.

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