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Biz News Korea(Eng)
Samsung Electronics cleared to start building $5.52bn foundry within this year
- Collected
- 2017.11.24
- Distributed
- 2017.11.27
- Source
- Go Direct
The provincial government said on Thursday it decided to accept the traffic review results of the project as final, allowing the company to break ground in mid-December.
The construction had been scheduled for next year, but Samsung Electronics decided to start earlier to preemptively respond to surging market demands.
The new plant to make customized computer chips, if materialized, will bring the world’s largest memory semiconductor producer at par with global foundry players and further cement its market leadership as an integrated device manufacturer.
Samsung Electronics laid out a plan to build the foundry with dozens of extreme ultraviolet (EUV) exposure devices in Hwaseong in July when it kicked off operations of a new semiconductor line in Pyeongtaek in the same province.
The foundry project could generate 15 trillion won ($14 billion) worth of production inducement and more than 50,000 jobs, according to the company.
At 1:25 p.m. Friday, shares of Samsung Electronics were up 0.2 percent at 2,770,000 won.
By Lee Dong-in and Minu Kim
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