Samsung to invest W30 trillion to build chip plant
Samsung / Yonhap
By Kang Seung-woo
Samsung Electronics plans to spend 30 trillion won ($27.8 billion) to set up a second chip-production line in Pyeongtaek, Gyeonggi Province amid surging demand for memory chips, according to industry sources, Wednesday.
“Samsung is in talks with officials in Pyeongtaek over a new chip-production line in that city,” said a source who asked not to be named.
However, the source added detailed plans have yet to be determined.
Samsung held a meeting of management committee members early today to discuss it.
“The meeting finished but we cannot talk about what was discussed. We talk about investments but the details are not decided yet,” a Samsung official said.
Pyeongtaek, located some 70 kilometers south of Seoul, is already home to the production line of the world’s largest chipmaker that mass-produces 64-layer V-NAND flashes. Samsung opened the plant last July.
The decision, if made, would mark Samsung's first major investment since Samsung Electronics Vice Chairman Le Jae-yong was released from prison, Monday, after the appeals court gave a suspended jail term. Lee had remained in detention for a year over a corruption scandal involving former President Park Geun-hye.