SEOUL--In an effort to maintain its leadership position in memories, Samsung Electronics Co. Ltd.'s board on Tuesday approved a plan to invest $1.2 billion for a new 300-mm fab in South Korea, according to a report from Dow Jones.
Reports also surfaced that Samsung would invest $7.3 billion to expand flat-panel display operations in China.
In the first announcement, Samsung's new 300-mm fab--which will produce DRAMs and flash memories--represents the company's 12th memory line, according to the report. Located in Hwasung, Kyunggido, south of Seoul, the new 300-mm fab is slated to begin production in 2003, the report said.
In August, Samsung also set plans to build two 300-mm fabs, which are apparently separate from today's announcement. At about that time, the Korean company also said it would invest $3.6 billion to bolster its logic IC portfolio.
Earlier Tuesday, the China Daily in mainland China reported that Samsung plans to invest $7.3 billion to expand its operations in China. The investment would expand its LCD operations in Suzhou, near Shanghai.