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Samsung reportedly to invest $19 billion in chip, display plants

Staff Writer |
Samsung Electronics plans to invest at least $18 billion in memory chip business, aiming to expand its lead in memory chips and next-generation smartphone displays.

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The world's top maker of smartphones and memory chips reportedly said in a statement that it will invest 20.4 trillion won by 2021 to expand and upgrade its chip plants in the South Korean cities of Pyeongtaek and Hwaseong. The move is expected to create almost half a million jobs.

Under the plans, Samsung will invest 14.4 trillion won into its new NAND factory in Pyeongtaek by 2021.

The Pyeongtaek factory, the world's biggest, has recently started production after the company spent 15.6 trillion won to build it.

Samsung reportedly said its expansion plan could create as many as 440,000 jobs by 2021.

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