Samsung Set To Make A Decision On $17B US Chip Plant: Report

South Korean electronics giant Samsung Ltd. is set to make a call on the location and opening of its $17 billion chip factory after the company's vice chairman Kim Kinam made the announcement earlier this year.

What Happened: the visit of Samsung Vice Chairman Jay Y.Lee to the United States and Canada is expected to coincide with an imminent decision regarding the future location of the $17 billion chip plant, a report from Reuters noted.

The report further stated that the most likely destination of the plant is Texas' Williamson County, located near the city of Taylor, with the district offering the best incentive package.

Lee, who was previously indicted on a bribery and embezzlement charge and served 207 days in jail before being released on parole, is the heir to the Samsung dynasty that emerged his grandfather Lee Byung-Chul founded the company in 1938. The visit to America and Canada is the 53-year old's first high-profile trip since he was charged. 

The plant if approved would be Samsung's second major factory in Texas, with its operation in Austin being compromised by a winter storm.