The plan is part of the South Korean government's drive to invest heavily in six key technologies, including chips, displays and batteries, all areas where the country's tech giants are well-established already.
In this file photo taken on March 1, 2023, South Korea's President Yoon Suk Yeol speaks during a ceremony marking the 104th anniversary of the March 1st Independence Movement Day against Japanese colonial rule, in Seoul. South Korea's President Yoon Suk Yeol on March 15, 2023 hailed growing cooperation with Japan on issues from North Korea to semiconductors, saying it was part of a historic "new chapter" for the two countries.
Separately, Samsung said in a statement sent to AFP that it plans to invest 300 trillion won in the cluster area over the next two decades.The vast majority of the world's most advanced microchips are made by just two companies: Samsung and Taiwan's TSMC. Securing supplies of advanced chips has become a crucial issue internationally, with the United States and China locked in a fiercebattle for control of the chips market.