Chip shortages. That has been the cry since politicians made moves that locked down and impeded the economy during COVID-19. Go anywhere today and try and buy a laptop or an automobile and you’ll likely find few options. Why? Because there has been an ongoing chip shortage. Samsung is one of the world’s largest chip makers, and now, they’re making moves to expand that business.
According to Reuters, Samsung Electronics has broken ground on a new research and development facility and plans a US$15 billion investment into the project by 2028. The company hopes this move will help “drive leadership in chip technology.”
The new Samsung facility will be located in Giheung, south of Seoul, South Korea. The facility will be used to “lead advanced research on next-generation devices and processes for memory and system chips.” The facility will also be used to develop new technologies in the long term.
“Samsung Electronics is seeking to overcome the limits of semiconductor scaling,” it said in a statement. “We need to continue our tradition of investing pre-emptively and emphasizing technology,” Vice Chairman Jay Y. Lee said during the ceremony.
Dozens of markets are still trying to recover from the COVID-19 mess. Many of these markets rely heavily on chips, and while 2028 seems a long way off, these are the steps needed to ensure recovery. It will be interesting to see where things go in the near and distant future.
What do you think of the chip shortage? What do you think of Samsung investing in this facility? Please share your thoughts on any of the social media pages listed below. You can also comment on our MeWe page by joining the MeWe social network.