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Updated on: Tuesday, October 26, 2021, 05:35 PM IST

Samsung likely to finalize $17 bn fab investment in US soon

Samsung's de facto leader Lee Jae-Yong is widely speculated to visit the US, possibly next month, to finalize the site / Representational image |

Samsung's de facto leader Lee Jae-Yong is widely speculated to visit the US, possibly next month, to finalize the site / Representational image |

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Samsung Electronics will quickly decide on a foundry investment in the US, a senior executive said Tuesday, as the South Korean tech giant seeks to become the world's number one player in the logic chip and foundry sectors.

Samsung Electronics, the world's number two foundry firm behind Taiwan's TSMC, announced in May that it will build a $17 billion fab in the US.

Samsung's de facto leader Lee Jae-yong is widely speculated to visit the US, possibly next month, to finalise the site, with the city of Taylor, Texas, emerging as the strongest candidate. Other candidates include Arizona, New York, and Austin, Texas.

Kim Ki-nam, Vice Chairman and CEO of Samsung's device solutions division, said it takes time for the company to review all the factors such as "infrastructure, site, personnel and state incentives," and make a final decision.

"We are trying to make a decision as soon as possible," Kim told reporters on the sidelines of the Korea Electronics Show 2021, which is under way at an exhibition center in southern Seoul.

He made the comments when asked whether Samsung will make an investment within this year. He did not elaborate, reports Yonhap news agency.

Separately, Kim said the company has been "calmly" preparing answers to a recent request by the US Department of Commerce about its semiconductor business.

The US has asked global chipmakers, including Samsung, to share information on inventories and demanded other details by November 8 to "help improve trust and transparency within the supply chain." The request spawned concerns about the leak of chipmakers' major trade secrets.

(With inputs from IANS)

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Published on: Tuesday, October 26, 2021, 05:35 PM IST
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