South Korea's Lee says Samsung chip packaging expansion to spur $30 billion additional investment

Seoul, November 12 - President Lee Jae Myung announced on Thursday that Samsung Electronics has committed a further 40 trillion won in investment, complementing its 6 trillion won ($4.48 billion) in a high-bandwidth memory (HBM) chip packaging plant in Asan, South Korea. This information was disclosed during the groundbreaking ceremony for part of the investment plans which Samsung affiliates had unveiled in July.

According to Samsung, the new HBM production line is set to commence operations in June 2028, a year ahead of its original schedule, as the company strives to address the rapidly burgeoning demand for server memory. The new HBM plant will feature three floors of clean-room space covering approximately 31,000 square meters (37,076 square yards).

South Korea's government has enlisted the assistance of Samsung, fellow chipmaker SK Hynix, and other entities to spearhead "mega projects" encompassing semiconductors, artificial intelligence, and AI data centers.