July 4, 2017 / 1:48 AM / 7 months ago

Samsung Elec says to invest $18.6 bln in S.Korea for chips, displays

SEOUL, July 4 (Reuters) - Samsung Electronics Co Ltd said on Tuesday it plans to invest at least 21.4 trillion won ($18.62 billion) in South Korea to raise output of chips and displays, seeking to boost momentum for its booming components businesses.

Samsung, in a statement, said its plan includes 14.4 trillion won for its new NAND memory plant in Pyeongtaek by 2021 to increase output, and 6 trillion won to build another semiconductor production line at its existing Hwaseong complex.

The world’s largest memory maker by revenue also said it plans to add another NAND chip line in its Xi‘an, China, manufacturing base, without disclosing the investment amount or time frame. ($1 = 1,149.0000 won) (Reporting by Se Young Lee; Editing by Christopher Cushing)

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