SEOUL, July 2 (Reuters) - Samsung Group detailed plans on Thursday to invest 140 trillion won ($90 billion) for production of display panels, batteries, chips and chip materials in the central province of Chungcheong.
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Samsung Display to spend 67 trillion won in Asan and Cheonan, while Samsung Electronics to invest 56 trillion to build packaging facilities for high-bandwidth memory chips in Onyang and Cheonan.
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The plan fits into bigger investment plans the group rolled out on Monday. Details were provided by Samsung Display CEO Yi Chung at an event hosted by President Lee Jae Myung on Thursday.
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Samsung SDI to spend 9 trillion won by 2040 in Cheonan for production and research and development of next-generation batteries.
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Samsung Electro-Mechanics to invest 8 trillion won by 2040 in Sejong to produce advanced chip packaging materials for AI servers and nurture domestic talent. ($1=1,552.4000 won)
Reporting by Heejin Kim and Hyunjoo Jin; Editing by Clarence Fernandez
Source: Reuters