Samsung Electronics to Establish 11 Semiconductor Plants in Texas, USA with 252 Trillion Won Investment

[Image source=Reuters Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] Samsung Electronics plans to undertake a mid- to long-term project to invest approximately $200 billion over the next 20 years to establish 11 semiconductor factories in Texas, USA.

On the 21st (local time), according to the Wall Street Journal (WSJ) and local media in Austin, Texas, Samsung Electronics revealed this investment plan through a tax incentive application submitted to the state of Texas.

Samsung Electronics plans to build 9 semiconductor production plants in Taylor, Texas, and 2 in Austin. The investment amounts to $167.6 billion (approximately 220.5 trillion KRW) and $24.5 billion (approximately 32.2 trillion KRW) respectively by region. This is a massive total investment of $192.1 billion (approximately 252 trillion KRW).

Some of these will be completed around 2034. The rest will begin production over the following 10 years. Samsung Electronics also announced plans to create more than 10,000 jobs through this. Samsung Electronics already operates two semiconductor factories in Austin and is building a foundry plant in Taylor with an investment of $17 billion.

Samsung Electronics' large-scale semiconductor investment plan draws more attention as the U.S. Congress is promoting the 'Semiconductor Industry Promotion Act' to revitalize the domestic semiconductor industry. This bill mainly provides $52 billion (65 trillion KRW) in subsidies and incentives to the U.S. semiconductor industry.

Greg Abbott, Governor of Texas, said in a statement, "The new factories will enable Texas to solidify its position as a leader in the U.S. semiconductor industry," and added, "We thank Samsung for increasing its investment."

However, submitting the application does not guarantee Samsung Electronics' investment. A company official explained to WSJ, "The investment proposal contained in the application reflects a long-term planning process to assess the feasibility of Samsung Electronics' expansion of its U.S. business."

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