Samsung to spend $230 billion on 5 advanced chip factories

17 Mar 2023 CW Team

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

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..