Samsung to expedite chip plant investments after chief's parole
Samsung Group, the country's largest conglomerate, is
likely to ramp up its investment in chip plants amid the global shortage and
merger and acquisition (M&A) with the parole of its leader despite
controversy over the legitimacy, industry insiders said on Monday.
The parole board under the justice ministry approved Lee
Jae-yong's release from jail after hours of review, making him free from
Friday.
The Samsung Electronics
Vice Chairman has been behind bars since January after he was sentenced to 2
1/2 years in prison by the Seoul High Court in a retrial of a bribery case
involving former President Park Geun-hye.
Lee's parole comes at a time when Samsung is reviewing
its investment and M&A plans. With the tech giant's top decision maker soon
to be released, industry observers expect that Samsung will speed up its major
business plans in the near future, reports Yonhap news agency.
Samsung Electronics, the world's largest memory chip and
smartphone vendor, is currently looking to build a $17 billion foundry fab in
the US, but has yet to decide its location.
Sites in Texas, Arizona and New York have been mentioned as
candidates, but the company is reportedly still negotiating with municipal
authorities over incentives for a new chip facility.
The decision on the US chip plant is critical as Samsung's rival
companies are moving ahead to expand their production capacities amid global
chip shortages.
Comments
Post a Comment