Samsung is a leading manufacturer of memory chips. Credit: Behnam Norouzi on Unsplash.

South Korean company Samsung Electronics is planning to build a semiconductor development plant in Japan, reported Nikkei.

The new facility, which will be in Yokohama, will cost Y30bn ($222m), the publication said, without citing any source.

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Located southwest of Tokyo, Yokohama is also home to the company’s Samsung R&D Institute Japan.

The chip development hub will be built as a separate facility.

The proposed investment is anticipated to benefit from the combined knowledge base of Japan and South Korea.

Samsung is a leading manufacturer of memory chips globally, whereas Japan is a key producer of chip materials and equipment essential for chip production.

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The company will build a production line for a prototype semiconductor device, but no further specific information is known.

Samsung plans to start operating a new facility by 2025 that will employ several hundred people.

It hopes to take advantage of semiconductor investment subsidies offered by the Japanese government, which are estimated to exceed $734m.

Furthermore, the company aims to collaborate with Japanese material and equipment makers to improve the production process.

Samsung declined to comment on the development, which could lead to further cooperation between the two countries’ semiconductor industry.

Tokyo has been working to attract foreign investment to rebuild the country’s chip production base by attracting foreign investment.

Entities such as Taiwan Semiconductor Manufacturing Company (TSMC) and Micron Technology have invested in Japan, which was once a leader in memory chip production.