SEOUL, South Korea-Samsung Electronics said it has approved a plan rumored earlier this week to spend US$1.23 billion in a plant to produce dynamic random-access memory and flash memory chips.
The plant-the company’s 12th-is located in Hwasung, Kyungiddo, south of Seoul.
“We are investing to maintain our competitiveness and to secure additional equipment to strengthen our memory chip business,” said the company.
