The South Korean government last week revealed an eye watering ₩550tn ($420bn) plan to shore up Korea and Samsung’s position in the international foundry space. The plan would see the establishment of a high-tech cluster south of the capital Seoul focusing on advanced and strategic technologies, such as chips, displays, batteries, and electric vehicles. The $420bn is to be raised mainly from the private sector, with the government providing support through financial and tax incentives, research and development, training, and utility infrastructure. The government aims to have commitments secured by 2026. In addition, the government has set aside ₩25tn ($192bn) for five years of research in strategic technologies such as AI and quantum computing, though this figure may rise over…