Samsung To Bring Forward Opening Of 1st Yongin Chip Plant To 2029

Samsung Electronics plans to begin operations at the first semiconductor fabrication plant in its Yongin chip cluster in 2029, one to two years earlier than originally scheduled, industry sources said Sunday. The accelerated timeline comes as the government speeds up development of the Yongin National Industrial Complex, a national strategic project set to serve as the company's next-generation semiconductor manufacturing hub, according to Yonhap news agency. Samsung is currently planning to begin operations in 2029 at the first of six semiconductor plants to be built at the complex, just south of Seoul, the sources said. An industry official said an earlier start of operations at the first plant will enable Samsung to respond more quickly to rapidly growing global demand for artificial intelligence chips. Separately, the chipmaker said last month that under its mega project investment plan it plans to invest 2,030 trillion won (US$1.35 trillion) in its Pyeongtaek and Yongin semiconductor clusters, along with 400 trillion won to build two new chip plants in Gwangju, 270 kilometers south of Seoul. Meanwhile, Samsung Group and SK Group vowed a combined investment of 896 trillion won ($578 billion) in the southwest region, in line with the government's vision of pursuing shared growth in the artificial intelligence industry, the industry ministry said. The Ministry of Trade, Industry and Resources pledged to provide necessary support for smooth implementation. The announcement came after the government unveiled what it calls the tripolar mega projects aimed at advancing technologies across the country and turning South Korea into an industrial powerhouse in the emerging AI era. SK Group pledged to invest 470 trillion won in the southwest region to build two semiconductor fabs as well as a 1-gigawatt AI data centre.