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The US is investing more than $6 billion in Samsung Electronics

The US is investing more than $6 billion in Samsung Electronics

© Reuters.

The US government plans to pay more than $6 billion to Samsung Electronics Co. The financing will allow the semiconductor maker to expand its operations in Texas beyond the scope of the previously disclosed project, Bloomberg reported.

Bloomberg reports that the business sector is preparing to release key financial results in the coming weeks, according to people familiar with the matter. This includes providing more than $5 billion to Taiwanese semiconductor manufacturing companies under the Chips and Science Act of 2022.

Also, the US government's monetary support for Samsung, South Korea's leading semiconductor manufacturer, is said to be complemented by the company's substantial investment in the US.

However, Bloomberg cautioned that the upcoming report represents only a preliminary agreement that is still subject to change, with no final decision made at this time.

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