Samsung to invest $19 billion in chip, display plants in South Korea

Samsung will invest more than $18 billion over the next four years to expand its memory chip and smartphone businesses in South Korea.

The decision to expand investment in the chips and display sectors also comes in line with the new government's plan to generate jobs and revitalize the national economy through cooperation with the business community, the sources added.

The post Samsung to invest $18 billion in memory chip business appeared first on The Independent Uganda:.

Lee has been imprisoned since February amid his alleged connection to a political scandal which led to the ouster of former President Park Geun-hye.

According to Samsung, its chip plant that opened in 2015 is now one of the largest semiconductor production lines in the world.

In a company statement issued Tuesday, Samsung announced that by 2021 investments in its Pyeongtaek plant-which has already seen 15.6 trillion won ($13.5 billion) of spending-would rise to 30 trillion won ($26 billion).

Some analysts said additional capacity across the industry could cause slight oversupply in early 2018, but that prices are unlikely to drop because demand is so strong.

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Samsung added that it is considering adding more semiconductor production lines in its factory in Xi'an, China.

The company has also shown an increase in memory chip sales over the years, as it accounted for over 40% of global memory chip sales in Q1 2017 and in April it saw the biggest quarterly net profit in more than three years.

Some South Korean companies in China have seen sales decline or have had to reduce operations since Beijing objected to Seoul's deployment of a US anti-missile defense system in March. Chinese smartphone makers are among the biggest buyers of memory chips and displays.

Samsung said: "Our clients are having difficulty securing enough semiconductor chips due to growing global demand for high-tech gadgets".

China is trying to develop its own memory chip producers but it is likely to take several years before they can compete with existing makers, analysts said.

Samsung on Tuesday also said unit Samsung Display plans to invest around 1 trillion won on a new organic light-emitting diode display complex in South Korea. Samsung uses OLED screens for its high-end Galaxy smartphones.

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