SEOUL — South Korean tech giant Samsung announced on Sunday plans to invest USD 310 billion over the next five years, with a significant focus on artificial intelligence (AI) and semiconductor technology to meet surging global demand.

As part of the investment, Samsung will build a new semiconductor facility, Pyeongtaek Plant 5, which the company said is designed “to meet the needs of memory-chip demands.”

“Once in full operation, the Pyeongtaek plant is expected to play an even greater strategic role in both the global semiconductor supply chain and South Korea’s domestic chip ecosystem,” Samsung said in a statement.

The new plant is slated to begin operations in 2028.

(WAM)