According to the Yonhap News today, South Korean technology giant Samsung Electronics announced on Tuesday that it will build a second chip plant in Seoul. An insider said Samsung Electronics is in talks with Pyeongtaek officials on the second chip maker, but so far no specific investment or investment time has been set.
Pyeongtaek, located about 70 km south of Seoul, is home to Samsung’s Chip One plant, which started production in July 2017.
An executive at Samsung Electronics said Samsung has been thinking about this project for a long time, but has not yet made any decision.
The second chip plant in Pyeongtaek City mentioned above will be the first significant investment made since Li Zu Rong regained his freedom.
It is estimated that Samsung spent 29.6 trillion won ($ 27.2 billion) on the project.
The executive revealed: “Specific details, including the type of product being produced, the size of the investment and the progress of production are expected to be finalized soon.”
On January 31, 2018, Samsung Electronics announced the fourth quarter of 2017 financial statements, consolidated revenues of 65.98 trillion won (about 61.361 billion US dollars), up 23.7% over the previous year; consolidated operating profit of 15.15 trillion won A total of 14.130 billion U.S. dollars), an increase of 64.2% over the same period of previous year, setting a record high.
The earnings report shows that the fourth quarter of Samsung’s revenue mainly from the promotion of components business, manufacturing DRAM and NAND memory business which made the largest contribution because of high performance memory products for servers and removable storage devices strong orders . Samsung Electronics business unit operating profit in the fourth quarter reached 10.9 trillion won, more than double the 4.95 trillion won a year earlier.