The Saxon microchip industry is to work more closely with partners in South Korea in future, according to plans by the Saxony Economic Development Corporation. "South Korea is one of the most important semiconductor markets in the world and is home to leading companies such as Samsung and SK Hynix, which have a significant share in the global production of memory chips and other semiconductor components," said Thomas Horn, Managing Director of Saxony Economic Development Corporation (WFS), according to a press release.
"Silicon Saxony" Europe's largest microchip location
Saxony is Europe's largest microelectronics location with the so-called Silicon Saxony, according to the Ministry of Economic Affairs. The network consists of around 3,600 companies with around 83,000 employees. It is centered in Dresden, but also in Chemnitz and other regions. The establishment of the Taiwanese chip giant TSMC and the expansion of production at Infineon and Globalfoundries are expected to increase the number of people employed in the industry in Saxony to around 100,000 by 2040.
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