https://wccftech.com/samsung-to-announce-17-billion-chip-plant-this-week-after-executives-visit/

Korean chaebol Samsung Group's chipmaking division Samsung Foundry is set to announce its plans to build a $17 billion chip plant in the United States this week. Samsung's vice chairman, Mr. Lee-jae Yong visited the U.S. over the weekend where he met with government officials and heads of technology and biopharmaceutical firms in his first high profile visit since being released from jail for bribery charges. The chip manufacturing facility will be the second of its kind being recently built in the U.S., with another one belonging to the Taiwan Semiconductor Manufacturing Company (TSMC) already under construction in Arizona.

News of Mr. Lee's trip to the U.S. broke last week when South Korean industry sources speculated that the executive would make the journey to finalize the location for Samsung's new chip manufacturing facility in the country. The Korean company is currently evaluating several sites for the plant, and it appears that a decision is near since it has withdrawn some documents submitted to authorities in Texas. The state is one of three potential locations, with the other two being in Arizona and New York.