Samsung is considering investing about $ 17 billion to build a chip factory in the United States, the Wall Street Journal reported.
What happened: The South Korean giant is looking for locations in New York, Texas and Arizona, people familiar with the matter told the WSJ.
Samsung’s plan is to open the factory by October 2022 and hire up to 1,900 people.
Why it matters: Expansion plans come after US lawmakers proposed allocating billions of dollars to develop the country’s chip-making industry, after the pandemic showed how dependent it is on overseas supply chains, noted the WSJ.
With the rise of the semiconductor industry in Asia, share among American companies has dropped to 12% in recent years, according to a study by the Boston Consulting Group.
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