Samsung said that it will spend another 38 trillion Korean won ($34 billion) on production logic chips, the brains that power computers. That brings its total spend on the business to 171 trillion won ($151 billion) over the period, including commitments announced in 2019.
The chipmaker also announced that it has begun construction of a new production line in Pyeongtaek — one of the world’s largest hubs for semiconductor production — which it expects to complete in 2022.
SK Hynix, meanwhile, announced its own plans to boost chip production, adding that it is considering doubling its foundry capacity.
The announcement Thursday from co-CEO and Vice Chairman Park Jung-ho at a government event “demonstrated his strong will that SK Hynix will devote to stabilize the global semiconductor supply amid the global chip shortage,” the company said in a statement. It declined to confirm exactly how much money it is investing, since “there is no detailed investment plan for the time being.”
“The expansion of the company’s foundry business will help fuel entire new industries built on next-generation technologies like AI, 5G and autonomous driving,” it added.