Hyun-ju Han, Gounee Yang

Global Economic News

SAMSUNG Electronics has confirmed Taylor, Texas as the construction site for its second foundry plant.

Samsung Electronics announced that it has completed negotiations with Taylor local governments regarding investment in new chip product lines.

Samsung Electronics Vice Chairman Kim Ki-nam held a press conference at the Texas governor’s residence last week with Governor Greg Abbott and Senator John Cornyn, and announced the decision on the foundry site.

The new foundry, which will be built in Taylor, will be constructed in the first half of 2022 and start operation within he second half of 2024. The estimated investment amount in construction and facilities reaches about US$17 billion. This is the largest amount ever made by Samsung Electronics in the United States.

“Through the investment this time, we will expand semiconductor production capabilities to respond to increasing demand for core semiconductor chips and contribute to stabilizing global semiconductor supply chains,” said an official from Samsung Electronics.

“It is scheduled to be constructed in the first half of 2022 and start mass-production in the second half of 2024. Investment costs, including construction and facilities, are expected to be US$17 billion.”

As Samsung Electronics has announced its U.S. foundry investment plan, completion with the world’s No. 1 foundry company TSMC is expected to be fierce.