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Samsung to invest $14.7 billion in new chip facility
The South Korean tech-giant is making a rather big investment back home. The company is investing roughly USD 14.7 billion in the construction of a new semiconductor fabrication plant in Pyeongtaek, Korea.
The company has signed a memorandum of understanding (MOU) to construct the new semiconductor fabrication plant in the company’s Godeok Industrial Complex in Pyeongtaek. Samsung will invest approximately KRW 15.6 trillion or USD 14.7 billion in the construction of the new site..
“Our investment into the new fabrication plant will significantly influence the shaping of Samsung’s future semiconductor business,” said Dr. Oh-Hyun Kwon, CEO and Vice Chairman of Samsung Electronics, in a statement
Construction of the 790'000 square meter site will begin during the first half of 2015, and operations are scheduled to begin sometime during the second half of 2017.