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South Korea on Thursday began construction of the first project under its major industrial development initiative at Samsung Electronics' advanced chip packaging facility, just four months after the government announced the plan, according to a report by The Korea Herald.
South Korean President Lee Jae-myung and Samsung Electronics Chairman Lee Jae-yong attended the groundbreaking ceremony for the Chungcheong mega-project, where a decades-old semiconductor assembly and testing operation is being transformed into a hub for advanced high-bandwidth memory packaging, as per the report. Just four months later, we are standing at the site where that promise is becoming reality, President Lee said, as reported by The Korea Herald. The report further noted that the groundbreaking ceremony marked a key milestone in the South Korean government's three major industrial projects announced in late June, aimed at boosting growth in semiconductors, artificial intelligence (AI) data centres and physical AI, while encouraging investments outside the Seoul metropolitan region. In July, Samsung Electronics, SK Hynix and other major companies announced plans to invest approximately 392 trillion won (USD 295 billion) in the central Chungcheong region as part of broader investment initiatives across the country. Addressing the ceremony, President Lee highlighted Samsung's plans to invest 6 trillion won in setting up an advanced semiconductor packaging facility in Onyang, followed by an additional 40 trillion won in phased investments in advanced equipment. The Onyang campus here in Asan will become a key hub for advanced HBM packaging, he said, as reported by The Korea Herald. Samsung Chairman Lee highlighted how the site had transformed over the past four decades from barren hills and unpaved roads into a major semiconductor assembly and testing facility. "With today's groundbreaking, we pledge to take another leap forward," he said, adding, "This site, once primarily focused on assembling and testing conventional semiconductors, will be transformed into a cutting-edge HBM hub at the heart of AI semiconductors." (ANI)
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