The second-largest manufacturer of semiconductors in the world wants to lead the global production of memory chips and next-generation smartphone displays. It intends to spend KRW1.4 trillion (US$1.22 billion) on a new NAND flash memory chip factory in Pyeongtaek as well as KRW6 trillion (US$5.23 billion) for a semiconductor facility in Hwaseong.
This year, with a new Apple handset on the horizon, chipmakers worldwide are ramping up their productivity and manufacturing capabilities to keep up with consumer demand. Every memory maker is expected to clock record profits for the 2017 financial year, with ever increasing demand and a persistent shortage driving up the prices of these chips.
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