Samsung Electronics gets $4.8 billion in tax incentives for chip plant in Texas

According to BusinessKorea, Samsung Electronics' tax incentive application for building a factory in Taylor has been approved, and Samsung will receive US$4.8 billion in tax incentives.

Samsung Electronics announced in November last year that its semiconductor factory in Tyler, Texas, plans to be operational in the second half of 2024. Today, Samsung Electronics has begun ordering the equipment needed for the clean room of this factory, and some of them will be delivered in January next year.

If tax incentive applications for two other plants planned for Austin are also approved, all 11 chip factories that Samsung Electronics plans to build in Texas will receive tax incentives.

In previous reports, foreign media have mentioned that Samsung Electronics, which plans to build a large-scale chip factory in Texas, has also filed an application for tax incentives.

Korean media also mentioned that in the third quarter, TSMC maintained its overwhelming No. 1 position with a market share of 56.1%, while Samsung only accounted for 15.5%. TSMC's sales in November soared 50.2% from the same period in 2021 to NT$222.7 billion, the highest monthly sales ever. All kinds of incentives for Samsung Electronics to catch up in the field of semiconductor manufacturing.