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Samsung Elec to invest US$17 billion in new chip foundry in u.s.-Blue House

Samsung Electronics plans to invest US$17 billion for a new plant for chip contract manufacturing in the United States, South Korea's presidential office said on Friday.

FILE PHOTO: The logo of Samsung Electronics is seen on a dish washer at its store in Seoul
FILE PHOTO: The logo of Samsung Electronics is seen on a dish washer at its store in Seoul, South Korea, August 27, 2020. REUTERS/Kim Hong-Ji

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SEOUL: Samsung Electronics plans to invest US$17 billion for a new plant for chip contract manufacturing in the United States, South Korea's presidential office said on Friday.

Documents filed with Texas state officials previously showed that Samsung is considering Austin, Texas, as one of the sites for a new US$17 billion chip plant that the South Korean firm said could create 1,800 jobs.

(Reporting by Joyce Lee, editing by Louise Heavens)

Source: Reuters