My Story, Foreign biz briefs – Jan 4

Samsung gets China chip plant nod

SEOUL: The South Korean government yesterday approved Samsung Electronics' plan to build a new plant in China to produce high-tech memory chips used in tablets and smartphones, the Ministry of Knowledge Economy said. Following the approval, the world's largest memory chip maker will select a site for the plant and seek Chinese government permission with a view to starting production in 2013, the ministry said in a statement. South Korean firms need government approval when they build strategic, key or sensitive factories abroad.

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