Samsung announces $90B investment for chips, batteries and displays
What's the story
Samsung has announced a massive investment of 140 trillion won ($90 billion) in South Korea's central Chungcheong province. The money will be used for the production of display panels, batteries, chips, and chip materials. The plan was unveiled by Samsung Display CEO Yi Chung at an event hosted by President Lee Jae Myung on Thursday.
Investment breakdown
Major investments by Samsung Display and Electronics
Samsung Display will invest 67 trillion won in Asan and Cheonan, while Samsung Electronics will pump in 56 trillion won to build packaging facilities for high-bandwidth memory chips in Onyang and Cheonan. Samsung's rival, compatriot SK Hynix, has also announced plans to invest 80 trillion won ($51.46 billion) into a new NAND memory chip production facility in Cheongju city, South Korea.
Future investments
Investments in next-gen batteries and AI chip packaging materials
Samsung SDI plans to invest nine trillion won by 2040 in Cheonan for the production and research of next-generation batteries. Meanwhile, Samsung Electro-Mechanics will spend eight trillion won by 2040 in Sejong. This investment is aimed at producing advanced chip packaging materials for AI servers and nurturing domestic talent.