The country wants Gyeonggi Province to house the world’s biggest cluster of semiconductor production plants by 2047, with companies like Samsung and SK Hynix planning to invest 622 trillion won in 16 new factories. (The Korea Times)

Talking point: South Korea’s megaproject will be backed with both public and private funding, as the government acknowledges it’s competing in a global race to dominate the chip market, The Korea Times noted. The U.S. is among several countries trying to limit trade of advanced chips with China and diversify semiconductor supply chains to avoid shortages. South Korea’s the top alternative in many cases: the Korea Trade-Investment Promotion Agency estimates that Korea has been the world’s No. 2 global chip producer since 2013, with nearly 18 per cent of the global market in 2022. China and Taiwan hold more than 23 per cent and 20 per cent, respectively. – Anita