November 26, 2022

SEOUL, Feb. 6 (Yonhap) — South Korean tech big Samsung Electronics Co. is pushing to construct a second chip-production line close to Seoul, trade sources mentioned Tuesday, amid rising demand for semiconductors.

The tech big is in talks with officers in Pyeongtaek over a brand new chip-production line in that metropolis, an insider mentioned, though no particular measurement or timing of funding has been decided.

Town is situated some 70 kilometers south of Seoul, and is already the house of Samsung’s chip-production line. The manufacturing line started churning out chips in July 2017.

An government at Samsung Electronics mentioned the mission has lengthy been reviewed, however mentioned that no determination has been made but.

Samsung Electronics has a chip-production line in Xian, China and one other chip-making manufacturing line in Austin, Texas.

Associated to the plant and hypothesis that the corporate could transfer ahead with the constructing at this juncture, Samsung Electronics Vice Chairman Yoon Boo-keun vowed earlier within the day to interact in “pace administration” which may be linked to aggressive enterprise selections.

He made the feedback in a quick assembly with reporters after attending a discussion board in central Seoul.

The choice for a second chip-production line, if made, would mark Samsung’s first main funding since Samsung Electronics’ different Vice Chairman, Lee Jae-yong, who’s inheritor obvious to South Korea’s greatest family-run conglomerate, was launched from jail after being locked up for practically a yr over a bribery scandal that led to the ouster of former President Park Geun-hye.

On Monday, a Seoul appeals court docket lowered Lee’s five-year sentence for bribery and different costs to 30 months in jail and suspended the sentence for 4 years.

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The ruling signifies that Lee won’t need to serve additional jail time if he stays out of hassle throughout that interval.

Lee was seen leaving his residence in Seoul earlier within the day, however his whereabouts remained unknown.

Additionally Tuesday, Moody’s Traders Service mentioned Lee’s launch is credit score optimistic, as it’s going to take away some uncertainty on the most senior management ranges on the conglomerate.

“Mr. Lee’s return will assist facilitate long-term strategic planning and determination making on the highest administration ranges of the corporate,” mentioned Gloria Tsuen, a Moody’s Vice President and Senior Analyst.

Moody’s Traders Service mentioned the tech big’s A1 senior unsecured ranking and optimistic ranking outlook stay unchanged.

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