Samsung invests US$18.63 billion into South Korea’s chip manufacturing plants
The Korean electronics giant announced massive investment plans for manufacturing, some of which includes memory chips and displays.
Earlier today, Samsung Electronics announced plans for investing KRW21.4 trillion (US$18.63 billion) into various manufacturing efforts.
By 2021, KRW14.4 trillion (US$12.3 billion) will go into its new NAND factory located in Pyeongtaek. KRW6 trillion will go to a production line located in Hwaseong, although Samsung did not share more on product or timing details, said Reuters.
Another production line will be added to its NAND plant located in Xi’an, China. This manufacturing effort will focus on providing long-term data storage chips. Samsung did not indicate an investment amount or time frame.
Samsung will also be investing around KRW1 trillion into their OLED display complex. The company said that its South Korean investment can create up to 440,000 jobs through 2021.
Source: Reuters
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