Sources say Samsung Electronics plans to advance the start-up of its first chip factory in Yongin to 2029

IT House reported on July 12 that according to Yonhap News Agency, industry insiders revealed on Sunday that Samsung Electronics is advancing the construction of its first semiconductor wafer fab in the Yongin chip cluster and plans to advance the production time to 2029, one to two years earlier than originally planned. This timetable has been advanced at a time when the South Korean government is accelerating the construction of Yongin National Industrial Park. The park is positioned as a national strategic project in South Korea and will also become Samsung's next-generation semiconductor manufacturing base. Sources said Samsung currently plans to put the first of six wafer fabs planned to be built in the Yongin Industrial Park into production in 2029. The industrial park is located south of Seoul. A semiconductor industry source said: "The early commissioning of the first factory will enable Samsung to respond more quickly to the rapid growth in global demand for artificial intelligence (AI) chips." In addition, Samsung also announced last month that under its large-scale investment plan, the company will invest 2030 trillion won in the two major semiconductor industry clusters of Pyeongtaek and Yongin (IT Home Note: The current exchange rate is approximately 9.15 trillion yuan). At the same time, Samsung also plans to invest another 400 trillion won (about 1.8 trillion yuan at the current exchange rate) to build two new chip factories in Gwangju, about 270 kilometers south of Seoul.