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Samsung will soon finalize semiconductor chip factory investment in the US

Business
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Last updated: October 26th, 2021 at 11:59 UTC+02:00

Samsung has been eyeing to invest around $17 billion to build a new semiconductor chip factory in the US. However, its plans haven’t been finalized yet, leading to questions from the media, investors, and industry experts. The company has now announced that it will soon finalize the plans for its new chip factory.

Kim Ki-nam, Vice Chairman & CEO of Samsung’s Device Solutions Division, said that the company is trying to make a decision regarding its next chip plant in the US as soon as possible. He said that it takes time to make all the important decisions such as the factory location, infrastructure required, personnel, and incentives from the government. This information was revealed during the ongoing Korea Electronics Show 2021 underway in Seoul, South Korea.

Samsung leader Lee Jae-yong, who was recently released from prison, is expected to visit the US sometime next month to finalize the site for the upcoming chip plant. Right now, the city of Taylor in Texas is considered to be the front-runner in the race to get Samsung’s investment. Other cities in the race include Arizona, New York, and Austin (Texas).

Another delay could be from the US Department of Commerce. It is being reported that the US government is demanding information related to inventories from global chipmakers, including Samsung. Kim said the company is “calmly” preparing answers to the request, and things will soon move forward.

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Source Business Samsung ElectronicsSamsung FoundrySamsung SemiconductorSystem LSIUSA
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