Samsung to choose a new location for a chip factory in America

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Samsung to choose a new location for a chip factory in America


Sunday – 9 Rabi’ al-Thani 1443 AH – 14 November 2021 AD Issue No. [
15692]


London: «Middle East»

Samsung Electronics, the world’s largest maker of memory chips and mobile phones, is about to choose the location of its new plant in the United States, industry sources said yesterday, amid rising competition in the semiconductor sector and a global shortage of electronic chips.
Lee Jae-yong, vice president of the giant company, is expected to visit the United States within days to finalize the company’s $17 billion investment project, according to the South Korean Yonhap News Agency.
In recent months, Samsung pledged to strengthen its presence in the semiconductor casting and logical chip business, in a bid to expand its presence in sectors dominated by Taiwan Semiconductor Manufacturing Corporation and Intel, respectively.
Late last month, the company laid out its vision to triple its capacity in the semiconductor casting business compared to the level in 2017. “We are planning an unprecedented level of Investing in the infrastructure of factories and equipment for semiconductor casting.
The company said its business in that sector recorded record revenues for the three months ending in September, without revealing specific sales or profit figures.
Taylor, Texas, with a population of about 18,000, has emerged as one of the strongest candidates for the new plant.
The tech giant has been offered a set of incentives, including tax cuts, for a project that is expected to create thousands of jobs and opportunities.
According to a decision by the Taylor City Council, the six-million-square-foot wafer and casting plant is expected to manufacture “the most advanced types of semiconductors.”
However, Samsung left other options open, saying that some other locations, such as Phoenix in Arizona and Manor in Texas near Austin, were also under consideration. Last month, Kim Ki-nam, vice president and CEO of Samsung’s Hardware Solutions division, which oversees the chip business, said the company would take time to review all the different factors, such as “infrastructure, location, staff and state incentives.” “We are trying to make a decision as soon as possible,” Kim told reporters on the sidelines of the 2021 Korea Electronics Fair in southern Seoul.
Lee is widely expected to leave for the United States within days and return before November 24, when his trial in the stock fraud case is scheduled. On Friday, the company said it could not confirm when Lee will visit the United States.


America

Korea – Republic of

Samsung

US economy







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