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Samsung says a massive expansion of its memory chip business in South Korea has the potential to create 440,000 jobs in the country.

The world's largest maker of chips and smartphones announced an $18bn (£14bn) investment on Tuesday, that aims to expand and upgrade its factories in the South Korean cities of Pyeongtaek and Hwaseong, along with its Xian plant in China.

The Pyeongtaek site, which was only recently opened, is already the biggest chip plant operating globally.

 

 

It said the employment benefits would be through the creation of jobs at Samsung directly and through opportunities in the supply chain.

The planned four-year investment was announced after the country's new president made tackling joblessness a priority.

His predecessor was impeached in the spring following a corruption scandal that also engulfed Samsung's acting boss with Jay Y. Lee - also known as Lee Jae-Yong - denying a series of bribery charges at his first court appearance.

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