Samsung Elec to plough $9 billion more into South Korea chip plant - MoneyToday

SEOUL (Reuters) - Samsung Electronics Co Ltd <005930.KS> plans to invest at least another 10 trillion won ($9.23 billion) to boost capacity at a new South Korean chip plant, news service MoneyToday reported on Thursday without citing sources. Samsung has already announced a 15.6 trillion won investment to build the plant in Pyeongtaek south of Seoul, its biggest commitment to a single production facility, as it ramps up its semiconductor business to offset slowing smartphone earnings. The plant is scheduled to begin production in 2017, but MoneyToday did not specify when the additional investment would take place. The report also said Samsung, the world's top memory chip maker, will produce DRAM memory chips at its South Korean chip complex but could also make mobile processors depending on market conditions. Samsung did not immediately comment on the report. (Reporting by Se Young Lee; Editing by Stephen Coates)