Japan gives Samsung 110 million in subsidies to build local

Japan gives Samsung $110 million in subsidies to build local facility

Last month, South Korean President Yoon Suk Yeol met with a Japanese prime minister for the first time in 12 years, marking a trend of improving relations between the countries. Now there is information about the willingness of the Japanese authorities to subsidize the construction of the Samsung chip packaging company in the country.

    Image source: Samsung Electronics

Image source: Samsung Electronics

Samsung Electronics is the world’s largest memory maker and acts as one of the engines of South Korea’s economy. The attention paid by the Japanese authorities to the needs of this company therefore highlights the thoroughness of the processes that take place in the relationship between the two countries. According to the information ReutersSamsung plans to build its first chip packaging facility near Tokyo and can expect up to $110 million in grants from local governments. The Korean giant already has a research and development center in Japan.

The Japanese authorities can absorb up to a third of all costs for the construction of the new Samsung plant. Japanese government officials said concrete proposals have not yet been received from Samsung and no decisions on subsidies have been made.

This week was also knownthat Japanese Prime Minister Fumio Kishida will meet with representatives of several foreign companies that play an important role in the semiconductor industry tomorrow in Tokyo. Attendees at the meeting include representatives from Intel, IBM, TSMC, Samsung Electronics, and Micron Technology and Applied Materials. In addition, the head of the European research organization IMEC will also take part in this event. On the part of Japan, relevant ministers and other officials should attend. The meeting will discuss the possibility of granting subsidies to foreign investors who express their willingness to invest in the Japanese economy.

About the author

Dylan Harris

Dylan Harris is fascinated by tests and reviews of computer hardware.

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