South Korea plans to spend $450 billion over the next decade to build the world’s biggest chip-making base, joining a race where the U.S. and China are bitter rivals. Samsung Electronics and SK Hynix will lead the effort driven by a government blueprint.
Samsung will spend $151 billion while Hynix will chip in with $97 billion to expand existing facilities. Another $106 billion will be spent on four spanking new facilities. The plan is to have a “semiconductor belt” stretching south of Seoul that will bring together chip designers, manufacturers and suppliers.