Samsung has confirmed that they’ll invest $14.7 billion or 15.6 trillion Korean won to setup a new semiconductor plant in South Korea. The plant will be located in Godeok Industrial Complex in Pyeongtaek and will provide jobs to around 150,000 citizens.
Samsung says the construction will begin in first half of 2015 with operations scheduled for sometime in second half of 2017. The company hasn’t confirmed as to what exactly the plant will manufacture (logic or memory chips) but Samsung says the plant will help them to “meet growing demand for advanced semiconductor products.”
Samsung is facing an uphill task to maintain its earnings that had a great run until the last quarter. Samsung reported a diminished mobile business earning but semiconductors has been consistent, which is why Samsung wants to invest in the business to keep an edge.
Samsung will reveal the earnings guidance for Q3 2014 tomorrow.
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