Samsung's semiconductor business has consistently been showing stellar performance which is why it's no surprise to see that even this year the company plans to put in as much as $10 billion into the business. The company today broke ground on the construction of a new chip-production line to further expand its influence in the semiconductor business. President Park Geun-hye attended the groundbreaking ceremony today alongside 600 officials from the government and related companies.
The company's new chip-production line is based in Pyeongtaek which is around 70 kilometers south of Seoul, the company expects to start production at the facility in the first half of 2017. Samsung is going to spend $14.4 billion on this production line, making it the company's largest-ever investment in a single production line.
The Pyeongtaek facility will become Samsung's largest chip-making production line upon completion as it will be based on 2.89 million square meters of land, far greater than the company's facilities in Giheung and Hwaseong which come in at 1.32 million sq. meters and 1.58 million sq. meters respectively. It will even be larger than the Xi'an, China facility which has been developed on a lot of 1.39 million sq. meters.
“Samsung's chip business, which kicked off in a country that lacked technology, is poised to make another leap for South Korea's future,” said Samsung Electronics CEO Kwon Oh-hyun, adding that the company hopes its Pyeongtaek line will play a major role in shaping the country's “creative economy policy.”
