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Samsung To Pour $23.4B Into US Chip Production

Samsung Electronics is gearing up to reveal its $17 billion (A$23.4b) foundry investment plan in the US, as its Vice Chairman Lee Jae-yong returns to Korea from a series of White House meetings.

The plan involves Samsung building a second factory in the US, to manufacture in concert with its current plant in Texas.

The official announcement is expected to be made this week, and is expected to include federal-level incentives for chip manufacturing companies.

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