Samsung’s Lee is visiting the United States in front of probably $ 17 billion in decision-making media for chip systems

Samsung Electronics Vice President Jay Y. Lee arrives in Seoul, South Korea, October 26, 2021. REUTERS / Kim Hong-Ji

SEOUL, November 15 (Reuters) – Samsung Electronics (005930.KS) Vice President Jay Y. Lee visits North America on his first high-profile trip after serving time in prison for bribery, with an imminent decision on the company̵[ads1]7;s planned $ 17 billion in USA tile plant.

Lee left Seoul on Sunday, and his trip to Canada and the United States is expected to coincide with a decision on the location of the new facility, Yonhap and other local media said. read more

A website in Texas’ Williamson County, near the city of Taylor, offered the better incentive package among various websites Samsung has considered for the new chip system that will create advanced logic chips, sources told Reuters earlier.

Since Samsung’s vice president Kim Kinam confirmed the chip’s plan in May, Samsung has compared incentives and found out who pays what in convoluted countries and other deals, while taking into account the amount of stable tools available such as water and electricity, one said. sources with knowledge of the case.

The source refused to be identified as they were not authorized to speak to the media.

A first-quarter winter storm hit Samsung’s chip factory in Austin, Texas, revealing the importance of stable tools, as a power outage caused wafers equivalent to around 300-400 billion won ($ 254-339 million) in damage.

“I am ready to meet many American partners,” Lee told reporters before his flight on Sunday, without elaborating.

He said he also expected to visit Boston, where the headquarters of Covid-19 vaccine manufacturer Modernas (MRNA.O) is located.

Last month, South Korea granted emergency use approval for Moderna’s vaccine produced by the pharmaceutical manufacturer Samsung BioLogics (207940.KS), which has a “fill and finish” agreement with Moderna.

In January, Lee was convicted of bribery and embezzlement and sentenced to 30 months in prison – including one year before serving his sentence. Following his probation in August, the presidency said it expected Lee to help the country obtain “semiconductors and vaccines.”

($ 1 = 1,179,6200 won)

Reporting by Joyce Lee; editing by Richard Pullin and Kim Coghill

Our standards: Thomson Reuters Trust Principles.

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