Samsung moves up Yongin chip plant opening to 2029

Samsung Electronics is moving to begin operations at the first semiconductor fabrication plant in its Yongin chip cluster in 2029, one to two years earlier than planned, industry sources said Sunday.

The accelerated timeline comes as the government speeds up development of the Yongin National Industrial Complex, a national strategic project set to serve as the company's next-generation semiconductor manufacturing hub.

Samsung is currently planning to begin operations in 2029 at the first of six semiconductor plants to be built at the Yongin industrial complex, just south of Seoul, according to the sources.

“An earlier start of operations at the first plant will enable Samsung to respond more quickly to rapidly growing global demand for artificial intelligence chips,” an industry source said.

Separately, the chipmaker said last month that, under its megaproject investment plan, it plans to invest 2.03 quadrillion won ($1.35 trillion) in its Pyeongtaek and Yongin semiconductor clusters, along with 400 trillion won to build two new chip plants in Gwangju, 270 kilometers (168 miles) south of Seoul.

Yonhap