Samsung Electronics to bring forward opening of 1st Yongin chip plant to 2029

Samsung Electronics Co. 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 official said. Separately, the chipmaker said last month that, under its mega project investment plan, it plans to invest 2,030 trillion 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 south of Seoul.