Vietnamese PM visits mega chip cluster in Gyeonggi

Samsung Electronics, SK hynix and other chip companies recently unveiled a US$471 billion plant to build 19 production fabs and two research fabs in the cluster. They expect to create more than three million jobs and produce 7.7 million wafers each month starting in 2030.

With the cluster taking shape, the RoK aims to make up 10% of the global system semiconductor market and enhance self-sufficiency in the supply chain of key materials to 50% by 2030, up from the current 30%.

Leaders of Samsung Electronics, including vice chairman Young Hyun Jun, and Corporate Management Office head Hark Kyu Park introduced the company’s semiconductor product models to the Vietnamese PM.

Samsung has so far poured huge investments into developing the semiconductor industry to provide foundation products for electronic devices, microchips and other electronic components, widely used in life, from electronics to smartphones, computers, cars and medical devices.

Chinh lauded Samsung’s effective operations in Vietnam and affirmed that the government will continue to support the RoK company in expanding its operations in the country.

Informing his hosts about Vietnam’s prioritized policies to develop the semiconductor and artificial intelligence industry, he said the government welcomes and encourages foreign investment in semiconductor technology and AI, as well as in promoting ecosystems in this field.

Vietnam will perfect policy institutions, train high-quality human resources, and develop infrastructure to best serve corporations investing in the semiconductor industry, he assured his hosts.