South Korea’s Lee says Samsung chip packaging expansion to spur $30 billion additional investment

South Korean President Lee Jae Myung said on Thursday that Samsung Electronics’ 6 trillion won ($4.48 billion) investment in a high-bandwidth memory (HBM) chip packaging plant in Asan, South Korea, would be followed by about 40 trillion won in investment in advanced equipment.

Lee made the comment during a groundbreaking ceremony for part of theinvestment plans that Samsung affiliates announced in July.

Samsung Electronics said in a presentation that the new HBM production line is scheduled to begin operations in June 2028, a year earlier than initially planned, as the company seeks to meet rapidly growing demand for server memory.