Seoul based tech giant; Samsung claimed today that it was planning to invest at least $19 billion during the next four years within the memory chip and display plants within South Korean cities including Pyeongtaek and Hwaseong.
Samsung's investment announcement coincides with the start of mass chip production at its Pyeongtaek facility.
In addition, Samsung plans to construct a second semiconductor fabrication line in Xi'an, China.
NAND flash memory is a type of nonvolatile storage medium that does not require power to retain data. Pyeongtaek Semiconductor Line will be producing cutting-edge 4th generation 64-layer V-NAND. The fourth generation chip, according to Samsung, transmits data 50 percent faster than its predecessor, the 48-layer V-NAND chip. The move comes as part of efforts to respond to the growing market in China, world's largest buyer of NAND flash memory.
It had been providing the chips confidentially to a selected number of customers since late a year ago, but had put off their mass production until the completion of the new Pyeongtaek fabrication line. At this commemoration, 100 board of directors and executives and employees such as CEO (Vice-Chairman) Kwon Oh-hyun of Samsung Electronics, President Kim Ki-nam, and each department heads of DS (Device Solutions) Business were in attendance.
Samsung is advancing its efforts into expanding its semiconductor production as it plans to invest $18bn into its chip business.
$12.5 billion will go into its NAND fab in Pyeongtaek and $5.2 billion will go to its fab is Hwaseong.
Samsung Display is reviewing plans to establish a new organic light-emitting diode manufacturing site in Asan, South Chungcheong Province, by 2018. Samsung's first semiconductor fabrication line in Xi'an was constructed in 2014 and is presently in full operation.
Samsung indicates that its South Korea investment could create up to 440,000 jobs. The first Xi'an plant is now producing NAND chips.