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

by Mike Robinson

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© Reuters. FILE PHOTO: Jay Y. Lee, Vice Chairman of Samsung Electronics, arrives at a Seoul court on October 26, 2021. REUTERS/Kim Hong-Ji

SEOUL (Reuters). Jay Y. Lee (OTC:) Vice Chairman of Samsung Electronics is currently in North America after spending time behind bars for bribery. There will soon be a decision about Samsung (KS)’s proposed $17 Billion U.S. Chip Plant.

Lee left Seoul Sunday, and his visit to Canada and America is likely to coincide with the decision about the site of the new facility. Yonhap reported and other local media that Yonhap was reporting.

Lee stated that he was “set to meet many U.S. Partners” before he flew on Sunday without further explanation.

He stated that he was also planning to visit Boston, the COVID-19 vaccine producer. Moderna The headquarters for (NASDAQ) can be found in.

South Korea approved Moderna’s vaccine by Samsung BioLogics last month. This company has an “fill-and-finish” agreement with Moderna.

Lee was convicted of embezzlement, bribery and theft in January and sentenced to 30 month imprisonment. This includes a year before his sentencing. The presidential office stated that Lee would help to procure vaccines and semiconductors after his release in August.

Sources previously revealed to Reuters that a site located in Texas’ Williamson County is leading the charge for the proposed new plant. It will produce advanced logic chips.

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