Samsung boss could confirm $17 billion plant location at his latest U.S. visit

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Last updated: November 15th, 2021 at 11:13 UTC+01:00

Multiple reports have speculated that Samsung’s $17 billion plant in the continental United States is all but official. Samsung has looked at multiple locations, including New York, but appears to have settled for Texas. We could be closer than ever to an official announcement, as Samsung Electronics chairman Jay Lee has reportedly visited the United States.

South Korean news outlet Yonhap reports that Lee could finalize the deal during his visit, but declined to elaborate any further. If the information is true, it shouldn’t be long before Samsung makes it official. Furthermore, Lee has to wrap things up in the United States quickly, as he is due back in South Korea for his court hearing. Kim had the following to say the reporters at KES 2021.

We are trying to make a decision as soon as possible

As mentioned earlier, Samsung has zeroed in on Texas for its lucrative tax benefits. The city of Taylor in Williamson County is one of the potential locations, although Samsung could just expand its Austin facility, which was severely affected by a winter storm recently. The plant is expected to be operational sometime in 2023-24 and will churn out 5nm wafers.

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Source 1 Source 2 BusinessGeneral Samsung ElectronicsUnited States
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