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)