What just happened? South Korea has said that it will build the world's largest chip center using a $230 billion investment from Samsung Electronics. $260 billion is being set aside for the semiconductor sector, including the establishment of the world's largest semiconductor megacluster, the development of next-gen core tech, and overseas technical cooperation and export support. "The announcement comes as the US continues to tighten restrictions on chip-making-tool exports to China, which has caused the Asian nation's chip imports to crash by 27% in the first two months of 2023