South Korea’s largest companies including Samsung Electronics Co. will join a government plan to pour some $422 billion into fields including chips and electric vehicles by 2026, the country’s most aggressive effort to date to stake out pivotal technologies.
That would provide an initial kick for Samsung, which now plans to spend about 300 trillion won ($229 billion) over the next two decades to build a new chip cluster on the outskirts of Seoul. The world’s largest memory maker is investing heavily in its foundry capabilities in a bid to challenge far-bigger rival Taiwan Semiconductor Manufacturing Co. as the center