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Samsung chip plant in China expects output value to top 100 bln yuan in 2022

Samsung chip plant in China expects output value to top 100 bln yuan in 2022

Baku, December 8, AZERTAC

Samsung's chip plant in Xi'an, capital of northwest China's Shaanxi Province, expects its 2022 output value to top 100 billion yuan (14.3 billion U.S. dollars) despite obstacles brought about by the COVID-19 epidemic, according to Xinhua.

In the past three years, the factory in Xi'an has never stopped production, Junghyun Seo, vice president of Samsung China Semiconductor Co., Ltd., said Wednesday. With the help of the local government, the company has overcome challenges in logistics and raw materials supply to ensure production, he added.

"There are short-term difficulties, but in the long term, we are always optimistic about the Chinese market and the Chinese economy," he said.

The semiconductor plant settled in the Xi'an High-tech Zone in 2012 and the first phase of the project kicked off production in 2014 with a total investment of 13.7 billion dollars. The second phase of the plant began full production in October 2021 with an investment of 13.3 billion dollars.

"The company will continue to develop in China and remains positive about the Chinese market and the Chinese economic prospects," Seo said.

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