Samsung to invest in South Korea mega chip-making plan

Electronics giant Samsung says it plans to invest around 300tn won ($230.8bn; £189.6bn) over 20 years in the South Korea government's push to develop a mega semiconductor hub in the country.

This will be put towards building five chip factories, the firm told the BBC.

Samsung is the world's biggest maker of memory chips, smartphones and TVs.

Under the official plan, companies in high-tech industries will be offered incentives like expanded tax breaks and infrastructure support.

"The mega cluster will be the key base of our semiconductor ecosystem," South Korea's Ministry of Trade, Industry and Energy said in a statement on Wednesday.