Samsung Electronics is one of the largest chip manufacturers in the world, which is now planning to uplift its chip production capacity at its largest semiconductor plant in the P3 factory in Pyeongtaek, South Korea next year suggests the Korean newspaper.
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As per the information of Moneycontrol, the Korean tech maker has aimed to increase the mass production of its chip business in 2023 at its P3 factory in Pyeongtaek which is the company’s largest chip manufacturing facility in South Korea.
With the expansion of chip production, Samsung is eyeing to increase the overall value in the market which correlates with the scaling back of investment of other chipmakers, economic slowdowns in many regions across the globe, and falling demand. 
The 2023 expansion plan of chip production at the P3 factory in Pyeongtaeka South Korea includes a 12-inch wafer capacity for DRAM chips. Along with the 10 extreme UV machines, and a 4nm chip capacity, which will be built under the foundry contracts in 2023.
In October Han Jin-man, executive vice president of the memory business at Samsung also said that “We plan to stand behind our original infrastructure investment plans”. In contrast, memory chip rival Micron Technology said it would adjust down its investments in fiscal 2023 to between $7 billion and $7.5 billion, compared with $12 billion in fiscal 2022.
