First News
Volume:8, Number:03
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Business & Finance 3
THIS WEEK

Samsung to Invest USD19 Billion in Chip, Display Plants in South Korea

Samsung Electronics said on July 11 it will invest USD19 billion in the next four years in its memory chip and display plants in South Korea. The South Korean company’s announcement comes as the global memory chip industry enjoys a massive boom thanks to a surge in demand for microchips. Global tech companies have been increasing servers and data centers to handle more data from mobile devices and auto vehicles and also on expectations that adoption of artificial intelligence would create even more demand for handling data. Samsung said by 2021, it will spend an additional USD12.5 billion to increase the capacity in its memory chip factory in Pyeongtaek, south of Seoul, which began operating in the day. Samsung said the USD13.6 billion) chip plant, which broke ground two years ago, is one of the largest semiconductor production lines in the world. Samsung will spend USD5.2 billion in its memory chip cluster in Hwaseong as well.

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