Samsung plans $18.6 billion South Korea investment amid chip boom

Pyeongtaek semiconductor fabrication line

Samsung concluded by claiming the investment on the plants would eventually lead to the creation of up to 440,000 jobs through to 2021 which will have a stimulating effect on the economy as well.

Samsung Electronics is also reviewing its plan to construct additional semiconductor line in Xi'an, China in order to actively respond to demands for memories in China.

$12.5 billion will go into its NAND fab in Pyeongtaek and $5.2 billion will go to its fab is Hwaseong.

Samsung's production technologies are a year ahead of rivals such as Toshiba and SK Hynix, believes analyst.

In hopes of retaining the number one spot in the future, the company has announced its plans to invest at least $18.6 billion in its home country to boost production of memory chips.

Samsung - which accounted for more than 40 percent of global memory chip sales in the first quarter of this year - posted in April its biggest quarterly net profit in more than three years. The global shortage of chips though could drive the prices high which is a benefit to Samsung as it could drive their profits even higher in the coming financial periods, thus permanently unseating Intel as the leading chip maker and this is evident as it continues its investment in production facilities.




The announcement also came after newly elected South Korean President Moon Jae-In set tackling rising unemployment as his top priority.

"There's no chance of major oversupply issues, and I think Samsung is investing so much because it's convinced that won't happen", said Shinhan Investment analyst Choi Do-yeon.

In China, some South Korean firms have suffered from sales decline or have been forced to scale down operations after retaliatory measures from Beijing over the deployment of a USA anti-missile defence system outside Seoul, but component makers such as Samsung have not yet been affected.

Samsung on Tuesday also said Samsung Display plans to invest around 1 trillion won on a new OLED display complex in South Korea.

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.

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