Samsung boosts non-memory chip investment to $151 billion as S.Korea offers bigger tax breaks

FILE PHOTO: The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji

SEOUL (Reuters) -Samsung Electronics on Thursday raised its planned investment in non-memory chips to 171 trillion won ($151 billion) through 2030, joining a rush of firms ramping up investments amid a global semiconductor shortage.

Countries have also been working to bolster chip supply chains as the chip shortage affects production in industries such as autos. South Korea on Thursday said it would offer bigger tax breaks plus 1 trillion won ($883 million) in loans for its local chip industry.