Samsung to name US plant location this week — report

Samsung to name US plant location this week — report
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SEOUL (Nov 21): Samsung Electronics Co will announce the location of its new chip plant in the US this week, following vice chairman Jay Y Lee's trip to the country and Canada, Yonhap News reported.

Lee met with White House officials to discuss ways to resolve global chip shortages and incentives to be offered for the tech giant if it builds a plant in the US, Yonhap said, citing unidentified people at the South Korean company.

Lee, de facto head of the chipmaker, will announce the location this week after he returns to Korea, Yonhap said, citing an unidentified US Congressional source.

Taylor, Texas, north-east of Austin, is thought to have the inside track for the new plant after offering incentives. Samsung is also considering nearby Manor, Texas as well as Phoenix, a location in Upstate New York, Yonhap reported.

Lee left on Nov 14 for his first overseas business trip since his release from prison on parole in August. During his trip, he met with Satya Nadella, chief executive officer (CEO) at Microsoft Corp and Andy Jassy, CEO of Amazon Inc, Samsung said in a statement.