Samsung Electronics Nears $20 Trillion Semiconductor Plant Contract in Texas, USA

Foreign Media Report... "Operation Planned for Late 2024"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kim Suhwan] Major foreign media reported that the selection of Williamson County, Texas, as the site for Samsung Electronics' second foundry plant in the United States, worth $17 billion (about 20 trillion KRW), is imminent.

According to reports on the 29th, anonymous sources said Williamson County is leading the race, citing subsidy benefits and the stability of power and water supply as reasons.

Samsung Electronics stated that the selection process is still ongoing and no final decision has been made.

Samsung Electronics expects that this factory construction project will create about 1,800 new jobs.

Earlier, Taylor City under Williamson County held a joint meeting with Williamson County on the 8th (local time) and approved a plan to provide incentives such as property tax refunds to attract the Samsung semiconductor factory.

Samsung Electronics is known to have been considering Williamson County and Austin City, Texas, where it already has a factory, as potential sites for the second foundry plant.

In January, Samsung Electronics announced plans to build a semiconductor factory covering 6 million square feet (0.5 km²) and start operations by the end of 2024.

This plan to build a new semiconductor factory came amid the current global semiconductor supply shortage.

Park Seongsun, an analyst at Cape Investment & Securities, said, "As the United States considers semiconductors a national core industry and has announced a policy to focus on nurturing it, semiconductor production concentrated in the Asian region has begun to pose (security) risks to the U.S.," adding, "Samsung Electronics is trying to establish a (new semiconductor production) base in the U.S."

Earlier, the existing Samsung Electronics factory in Austin City temporarily suspended operations due to a winter storm that hit Texas in the first quarter, causing damage amounting to up to 400 billion KRW.

This content was produced with the assistance of AI translation services.