Samsung Joins Korea’s $400 Billion Bid to Lead in Key Tech
- South Korea is pouring billions into chips, EVs and batteries
- Growing tech protectionism is spurring a global chip arms race
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South Korea will join its largest companies including Samsung Electronics Co. to pour some $422 billion into areas such as chips and electric vehicles in its most aggressive effort yet to win a heated global race for tech supremacy.
The government will focus support on chips, batteries, robots, electric vehicles, displays and biotechnology in an investment plan through 2026, President Yoon Suk Yeol said Wednesday. The blueprint includes the creation of hubs housing chipmaking mega-plants, design houses and material suppliers to bolster the country’s own supply chain.