"The new investment reaffirms our commitment to sustain undisputed leadership in memory technologies, even in uncertain times," said Cheol Choi, executive vice president of Memory Global Sales & Marketing at Samsung Electronics. "We will continue to serve the market with the most optimized solutions available, while contributing to growth of the overall IT industry and the economy in general.”

In the age of the Fourth Industrial Revolution fueled by artificial intelligence, the Internet of Things and 5G expansion, the added capacity will play a major role in helping to address mid- to long-term demands for NAND flash memory. As digital lifestyles become more prevalent, Samsung will continue to be proactive in making new investments in order to seize future market opportunities.

Samsung's NAND flash production network extends from Hwaseong and Pyeongtaek in Korea to Xi'an, China. Established in 2015, Samsung's Pyeongtaek Campus is a hub for next-generation memory technologies, consisting of two of the world's largest-scale production lines.