Samsung to spend $230 billion on 5 advanced chip factories

In an effort to gain a competitive edge in the market and strengthen its own supply chain, Samsung Electronics announced that it will spend Rs 300 trillion won over the next 20 years to create the largest semiconductor cluster in the world in the Seoul metropolitan region. The planned chip cluster will be constructed in Yongin, Gyeonggi Province, and will include five cutting-edge chip fabrication facilities as well as about 150 component, component-related, and fabless companies. In order to more effectively prepare for a future in which machines powered by artificial intelligence will play a larger part in human life, Samsung will also expand its robotics business this year. Han Jong-hee, Vice Chairman, Samsung Electronics, stated at an annual shareholders meeting in Suwon, 34 kilometres south of Seoul, that the South Korean tech giant will strengthen core technologies necessary to develop various robots, and expand our product portfolio to enable users to have useful experiences (in the field). Han stated that the immensely well-liked ChatGPT, an AI-based chatbot system introduced by OpenAI, will have a favourable effect on Samsung's chip industry. Also read: Shriram Finance looking to sell stake in housing finance arm 1,350 projects sanctioned for developmental schemes in the NE