Samsung Electronics and SK Hynix are set to invest over $520 billion in creating a new chip-making hub in southwestern South Korea, following a government initiative aimed at boosting artificial intelligence capabilities in less-developed regions. This investment will support the construction of four new memory chip plants, diversifying from the companies' existing production centers located in Seoul.

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https://www.wsj.com/tech/samsung-sk-hynix-to-spend-520-billion-on-chip-plants-in-south-korea-7d50aab2

Samsung, SK Hynix to Spend $520 Billion on Chip Plants in South Korea

With memory demand booming, government pushes factories in less-developed southwest despite industry criticism

Jiyoung Sohn

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South Korean President Lee Jae Myung, center, with Samsung Electronics chairman Lee Jae-yong, right, and SK Group chairman Chey Tae-won at the announcement on Monday.Kim Min-Hee/POOL/EPA/Shutterstock

SEOUL—Samsung 0059303.41%increase; up pointing triangle Electronics and SK Hynix 0006600.84%increase; up pointing triangle plan to invest more than $500 billion in a new chip-making hub in southwestern South Korea, collaborating with the government’s push to bring the artificial-intelligence boom to less-developed regions.

The initiative, announced by the South Korean government Monday, envisions the creation of four new memory chip-making plants in the southwest, diversifying from the two companies’ current production centers which are all in the Seoul region.

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Samsung, SK Hynix to Spend $520 Billion on Chip Plants in South Korea

Samsung, SK Hynix to Spend $520 Billion on Chip Plants in South Korea

With memory demand booming, government pushes factories in less-developed southwest despite industry criticism

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