Samsung’s Lee visits U.S ahead of likely $17 bln chip plant decision-media

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Seoul, Nov 15 (Businesshala) – JY Lee, vice chairman of Samsung Electronics (005930.ks), is visiting North America in his first high-profile visit since serving a prison sentence for bribery, which included Samsung’s $17 billion A decision on the US dollar chip is imminent. Plant.

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Yonhap and other local media said Lee left Seoul on Sunday and that his visits to Canada and the United States are expected to coincide with a decision on the location of the new plant.

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“I look forward to meeting several American partners,” Lee told reporters ahead of his flight on Sunday.

He said he also hoped to move to Boston, where the headquarters of the COVID-19 vaccine maker Moderna (MRNA.O) are located.

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Last month, South Korea granted emergency use approval for Moderna’s vaccine, manufactured by drugmaker Samsung Biologics (207940.KS), which has a “fill and finish” deal with Moderna.

Lee was convicted of bribery and embezzlement in January and sentenced to 30 months in prison – including a year before his sentencing. On his parole in August, the presidential office said it hoped Lee would help the country buy “semiconductors and vaccines”.

A site in Texas’ Williamson County, near the city of Taylor, is at the forefront of various sites Samsung is considering for a new chip plant that is set to make advanced logic chips, sources previously told Businesshala.

Reporting by Joyce Lee; Editing by Richard Pullin

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