Samsung eyes P50-billion Luzon chip plant

South Korean technology giant Samsung plans to invest P50.65 billion in a chip capacitor plant in the Philippines, with the project awaiting presidential approval.

Fredrick Go, Special Assistant to the President for Economic and Investment Affairs, disclosed the investment by Samsung Electro-Mechanics Philippines Corp. (SEMPHIL) on the sidelines of an investment roadshow in Makati City.

A document from Malacañan Palace showed the plant, to be located in Calamba City, Laguna, will produce over 100 billion units of multi-layer chip capacitors for the automotive sector.

Commercial operations are expected to begin in the fourth quarter of 2027, creating around 3,000 jobs, Go said.

He said the large-scale investments like Samsung's require detailed review due to companies' requests for specific incentives.

He expressed optimism that President Ferdinand Marcos Jr.'s office would complete the approval process in the first half of the year.