South Korea has unveiled plans for a semiconductor mega cluster as it aims to secure top spot in the increasingly competitive sector.
The ambitious plans, which aim to unite established chip producers and R&D labs, could see 13 chip production plants by 2047 through $470bn of public and private financing across southern Gyeonggi Province, including Pyeongtaek, Hwaseong, Yongin and Icheon.
By 2030, the cluster is targeting production of 7.7 million wafers per month. Private financing will be lead by Samsung Electronics and SK hynix.
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