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Samsung’s Lee visits U.S ahead of likely $17 bln chip plant decision-media – Financial Post

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SEOUL — Samsung Electronics vice chairman Jay Y. Lee is visiting North America in his first extreme-profile journey after serving jail time for bribery, with A selection imminent on The agency’s deliberate $17 billion U.S. chip plant.

Lee left Seoul on Sunday and his journey to Canadverta and America Is predicted to coincide with A selection on The state of affairs of The mannequin new plant, Yonhap and completely different native media said.

A website in Texas’ Williamson County, shut to The metropolis of Taylor, provided The greater incentives package deal https://www.reuters.com/technology/samsung-choice-new-us-chip-plant-location-imminent-texas-county-decide-2021-09-10 amongst numerous web websites Samsung has been contemplating for The mannequin new chip plant https://www.reuters.com/technology/samsung-electronics-shut-finalizing-17-bln-texas-chip-plant-supplys-2021-09-29 That is set to make advertvanced logic chips, supplys earlier thanhand informed Reuters.

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Since Samsung vice chairman Kim Kinam conagencyed the chip plant plan in Might, Samsung has been evaluating incentives and Understanding who pays what in convoluted land and completely different agreements, the placeas advertditionally contemplating the out there quantity of safe utilities Similar to water and Electricity, Definitely one of many supplys with information of the matter said.

The supply declined to be recognized as they Weren’t accredited To converse to media.

A winter storm Inside The primary quarter hit Samsung’s chip plant in Austin, Texas, laying naked the significance of safe utilities, as a shutdown Launched on by blackouts affected wafers Similar to round 300-400 billion gained https://www.reuters.com/Industry/retail-shopper/samsung-elec-q1-working-revenue-rises-46-strong-telephone-tv-gross sales-2021-04-28 ($254-339 million) of damages.

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“I am set To fulfill many U.S. companions,” Lee informed reporters earlier than his flight on Sunday, with out elaborating.

He said he advertditionally anticipated To go to Boston, the place COVID-19 vaccine maker Moderna’s headvertquarters are located.

Final month, South Korea granted emergency use approval https://www.reuters.com/article/idUSL4N2RM0VP for Moderna’s vaccine produced by drugmaker Samsung BioLogics , which has a “fill and finish” Deal with Moderna.

Lee was convicted in January of bribery and embezzlement and sentenced to 30 months in jail – collectively with a yr served earlier than his sentencing. Upon his parole in August, the presidential office said it anticipated Lee will assist the nation procure “semiconductors and vaccines https://www.reuters.com/world/asia-pacific/samsung-leadverter-jay-y-lee-launched-jail-parole-2021-08-13 .” ($1 = 1,179.6200 gained) (Reporting by Joyce Lee; modifying by Richard Pullin and Kim Coghill)

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Source: https://financialpost.com/pmn/business-pmn/samsungs-lee-visits-u-s-ahead-of-likely-17-bln-chip-plant-decision-media