The Japanese government is continuing to ramp up the country's semiconductor industry. Prime Minister Kishida Fumio says Samsung Electronics will get subsidies to open an advanced chip lab near Tokyo.

The South Korean tech giant will build the research and development center in Yokohama's Minato Mirai business district. The facility is expected to serve as a hub for creating chip-packaging technology needed for high-performance silicon. The government will cover up to half of the lab's cost of 40 billion yen, or about 280 million dollars.

Japan has been trying to entice foreign chipmakers to open plants in the country. It sees semiconductors as crucial to economic security and wants to strengthen the domestic supply chain.