Samsung to Pump 19 Billion to Advance Memory Chip Industry

Dianna Christensen
July 5, 2017

SAMSUNG Electronics said Tuesday it will invest 21.4 trillion won (US$19 billion) over the next four years in its memory chip and display plants in South Korea.

Samsung's investment announcement coincides with the start of mass chip production at its Pyeongtaek facility.

Internet of Things and automotive technologiesRecent emerging IT trends such as the Internet of Things (IoT), artificial intelligence (AI), big data and automotive technology has sharply increased demand for next-generation hardware components. This fab, claimed to be the single largest in the industry, is now making 64-layer 4th generation V-NAND flash chips. The remaining amount of investments will go to another facility in the Xi'an, China where a new production line will be installed.

At present, Samsung spent 15.6tn won over the last two years to build its Pyeongtaek plant, the largest plant in the world.

It had been providing the chips confidentially to a selected number of customers since late previous year, but had put off their mass production until the completion of the new Pyeongtaek fabrication line.

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"With the dedication and support of our employees, customers and partners, our new Pyeongtaek campus represents a new chapter in Samsung's semiconductor operations", said Kwon Oh-hyun, vice chairman and CEO of Samsung Electronics, at the ceremony.

It will also put KRW 6 trillion ($5.2bn) towards a new semiconductor fabrication line at its site in Hwaseong with the latest equipment, including Extreme Ultra Violet (EUV) kit, being installed.

Samsung also plans to invest six trillion won in its existing plant in Hwaseong to establish a semiconductor fabrication line with state-of-the-art infrastructure to prepare for the future semiconductor market.

Samsung will make a huge investment towards the expansion and upgrade of its memory chip and smartphone business in South Korea. Samsung's first semiconductor line in Xi'an, which was completed in 2014, is now in full operation.

The South Korean conglomerate celebrated its first shipments Tuesday from a semiconductor plant in Pyeongtaek, on the outskirts of Seoul, that recently began mass production.

Other reports by GlobalViralNews

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