Tue.Jun 15th , Jun 2021 12:11:17 PM
Samsung might build new chip factory in the US: Official reports

Rival’s facility expansion has perhaps left one of the leading electronics giants, Samsung Electronics to plan developing a new chip factory in the United States.

Apprehensions have been raised that the South Korean company is set to reveal its plans of the US investment in the summit between South Korean President Moon Jae-in and Joe Biden, the US President which to be held in Washington this Friday.

According to official reports, Samsung is considering building a USD 17 billion foundry factory in the United States, with Arizona, Texas, and New York deemed as possible candidate sites.

Moreover, the company’s US investment has been claimed to be in line with its vision of emerging as the world’s top player in the foundry and logic chip sectors by 2030.

It has been reported that the head of Samsung chip business, Kim Ki-nam is all set to visit the United States as a member of President’s business assignment for the summit and might confirm the plan post meeting with the US officials.

For the uninitiated, Samsung was the only South Korean company to join a White House online meeting in April to discuss global semiconductor dearth worldwide. The company has yet again been invited to a virtual meeting to be hosted by U.S Commerce Secretary, Gina Raimondo, on Thursday.

Samsung’s rival, Taiwan Semiconductor Manufacturing Co., had recently declared its plans of investing $100 billion over the next three years for capacity expansion; seeing which, the former company has taken up the decision to expanding its chipmaking business to the States.

Meanwhile, Intel has also announced financing $20 billion in expanding its chipmaking capacity and planned its re-entry into the foundry business. Besides, the company had also said that it is planning to spend additional 38 trillion won to strengthen its previous investment plan of 133 trillion won rolled out in 2019.

Source Credit: https://telecom.economictimes.indiatimes.com/news/samsungs-us-chip-plant-investment-may-be-in-offing-report/82705036

By Shreya Bhute

With corporate exposure in software and marketing, Shreya was always intrigued by content development. Having pursued her graduation in I.T. engineering, she works as a content writer for people.partilepep.com and jots down news articles across distinct domains including technology, business and healthcare.