Samsung plans to build two new manufacturing plants in the United States and South Korea. The company will spend about $45 billion on new factories.
Last January, there were reports that Samsung was planning to build a new factory in the UNITED States. According to the latest information, the company will announce investment plans for the United States and South Korea (Pyeongtaek) next month. Samsung will reportedly spend $44.74 billion on new manufacturing facilities to build in those countries.
In particular, investments in the construction of the second facility in the United States are estimated to be $17 billion. The factory can be installed at one of the locations in Texas, Arizona, or New York. Also, possible options include the city of Austin, where the company’s first factory is located.
Construction of the new Samsung factory planned to be built in the UNITED States will begin this year. The company will install all the plant’s main equipment in 2022 and start production in 2023. Last October, the South Korean giant applied to buy 258 acres of land near its facility in Austin. As for the factory to be built in South Korea, there is not much information yet.