Korea to spend nearly $50b in chip investments

SEOUL – South Korea’s chipmakers will be expanding their domestic investments this year to 56.7 trillion won (US$47.36 billion), according to a survey conducted by an industry body.

The figures were released by the Korea Semiconductor Industry Association based on a survey of its members on their investment plans for 2022. The stated amount represents a 10% increase over the 51.6 trillion won that the manufacturers invested last year, the Ministry of Trade, Industry and Energy said, according to Yonhap news agency.

South Korea is the leading global supplier of memory chips, which make up about 20% of national exports. The nation is home to semiconductor colossi Samsung Electronics and SK hynix, the two leading memory players.

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