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

South Korean President Lee Jae Myung said on Thursday that Samsung Electronics' 6 trillion won ($4.48 billion) investment in a high-bandwidth memory (HBM) chip packaging plant in Asan, South Korea, would be followed by about 40 trillion won in investment in advanced equipment.

Lee made the comment during a groundbreaking ceremony for part of theinvestment plans that Samsung affiliates announced in July.

Samsung Electronics said in a presentation that the new HBM production line is scheduled to begin operations in June 2028, a year earlier than initially planned, as the company seeks to meet rapidly growing demand for server memory.


The new HBM plant will have three floors of clean-room space covering about 31,000 square metres (37,076 square yards), Samsung said.

South Korea's government has tapped Samsung, fellow chipmaker SK Hynix and other companies to help drive "mega projects" covering semiconductors, physical artificial intelligence and AI data centres.

($1 = 1,339.5500 won)