Key facts
- Samsung Electronics is investing 6 trillion won ($4.48 billion) in an HBM chip packaging plant in Asan.
- President Lee Jae Myung said about 40 trillion won in advanced equipment investment would follow the plant.
- Lee said the plan would make South Korea a core hub for advanced HBM packaging, per Aju Press.
South Korean President Lee Jae Myung said on November 12 that Samsung Electronics' 6 trillion won ($4.48 billion) investment in a high-bandwidth memory chip packaging plant in Asan, South Korea, would be followed by about 40 trillion won in investment in advanced equipment, Reuters reported.
Aju Press reported Lee put the combined value of the new fab and the equipment at 46 trillion won, speaking at a groundbreaking ceremony for the Chungcheong mega project at Samsung's Onyang Campus in Asan. The dollar conversion uses the rate cited by Reuters of 1,339.5500 won per dollar.
Aju Press reported that Lee, in remarks carried by the outlet, said of the plan: "We will become a core hub for advanced HBM packaging."