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Samsung invests $1.9B in Korean chip factory

Electronics manufacturer looks to capitalize on growing demand for mobile devices.


June 7, 2012
by The Canadian Press

SEOUL, South Korea: Samsung Electronics Co. is spending $1.9 billion to build a new logic chip factory in South Korea to capitalize on demand for mobile devices.

The South Korean company says the new plant in South Korean city of Hwaseong will manufacture application processors for smartphones and tablet computers.

Samsung aims to complete the line before the end of 2013 after breaking ground this month.

Samsung is the world’s largest supplier of memory chips. It began pumping up investment in non-memory chips only recently.

©The Canadian Press