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Samsung Electronics, the world's largest chipmaker, said Monday that it will invest about 15.6 trillion won (14.6 billion U.S. dollars) in establishing new semiconductor plants in Pyeongtaek, some 70 km south of South Korea's capital Seoul.
South Korean Minister of Trade, Industry and Energy Yoon Sang- jik held a meeting with presidents of 16 major companies in a hotel in central Seoul, where they submitted their new investment plans.
According to the plans, Samsung would newly spend 15.6 trillion won on setting up a new semiconductor facility in Pyeongtaek for three years from the first half of 2015, earlier than expected.
Kwon Oh-hyun, chief executive of Samsung Electronics, told reporters after the meeting that he appreciated the government for its support to setting up the Samsung plants.
Other 15 companies, including Hyundai Motor, LG Electronics and POSCO, submitted their new investment plans worth around 12.8 trillion won, which would be launched in the second half of this year or in next year.
