Samsung’s $17 Billion Texas Chip Plant Hit by Construction Delay

Samsung seemed close to committing the largest foreign investment in the United States, but unfortunately, it has postponed the plan. 

The Korean tech giant had committed to one of the largest investments in the United States as a semiconductor plant, but the reports are indicating that they postponed the plan to gearing up to this semiconductor plant project. 

If the reports are to be believed of the newspaper Seoul Economic Daily, then the Korean “Samsung Electronics” has not taken the steps to start constructions on its preplanned $17 billion semiconductor plant in the Austin, Texas, northeast suburb of Taylor at least till particular point in 2025.  

However Samsung at the beginning had committed to get under way on the plant even by the end of 2024, when it came to a treaty with the city of Taylor in 2021. 

On the flip side the Seoul Economic Daily has reported that a speech Choi Si- Young, the president of Samsung Electronics’ foundry business, a little while back delivered at an event held in San Francisco. The executive stated that the Semiconductor Plant site would begin in 2025. However he hasn’t mentioned any exact date yet. 

Reports gathered from the various reporters indicate that the decision to postpone the plan could be due to US President Joe Biden’s Plans to build a semiconductor plant in the country. The noticeable fact is that the delay in construction probably resulted in a lack of semiconductor chips, since these chips are majorly used in multiple gadgets; for instance smartphones, television, washing machines, automobiles, and many more. 

Meanwhile the reports are also revealing that the Korean tech giants are the second semiconductor manufacturer who choose to delay construction of a new plant in the US. On the opposite side, Taiwan Semiconductor Manufacturing planned to begin work on its Phoenix in late 2024, but according to Bloomberg, issuing a statement regarding such plans would be delayed until 2025.