SoftBank's Arm Plans to Set Up South Korea Chip Training Facility

South Korea's industry ministry and SoftBank’s chip unit, Arm Holdings, have signed an agreement to strengthen the country’s semiconductor and artificial intelligence sectors, a presidential policy adviser said, Heekyong Yang, Hyunjoo Jin and Joyce Lee reported for Reuters.

British chip and software company Arm licenses its chip designs and earns revenue through royalties. (Photo: Arm Holdings X) 

The memorandum of understanding includes a plan for Arm to set up a chip design school in the country to tap its expertise in this area, Kim Yong-beom told reporters at a briefing.

The program aims to train about 1,400 high-level chip design specialists, a move that Kim said would help bolster the relatively weak system-semiconductor and fabless segments in Asia’s fourth-biggest economy.

British chip and software company Arm licenses its chip designs and earns revenue through royalties.

SoftBank CEO Masayoshi Son, who met with South Korean President Lee Jae Myung recently, said demand for chips will rise dramatically as AI advances, according to Kim.