Monday, 14 September, 2026
Powering the Chip Race: Tech Giants Reject $19B Electricity Prepayment Deal
By TechShots Studio
Samsung Electronics and SK Hynix turned down a proposal by state-run utility Korea Electric Power Corp (KEPCO) to prepay 25 trillion won ($18.6 billion) in electricity bills. KEPCO sought the advance funds to finance national power grid expansions—including high-voltage infrastructure for South Korea's massive Yongin semiconductor cluster—to support power-hungry chip manufacturing.