Samsung To Name Second U.S. Plant Location This Week: Report

South Korean electronics giant Samsung Ltd will announce the location of its planned $17 billion U.S. chip factory this week. 

According to a Bloomberg report, Samsung's leader Lee Jae-Yong has met with U.S. government officials and lawmakers to discuss the second chip plant and semiconductor supply issues. 

Lee, de facto head of the chipmaker, will announce the location this week after returning to South Korea. 

Samsung Electronics has a chip manufacturing plant in Austin, Texas. The city of Taylor, also in Texas, is considered the most likely candidate for the second plant.

The company's plant in Austin was shut down for more than a month in February due to a severe winter storm that affected millions of homes and businesses in Texas.

In August, Samsung said that it would invest a total of $205 billion in the chip and bio industries over the next three years in a move to secure future growth engines and expand technology leadership in the post-COVID-19 era.

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