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$18 billion

Samsung to invest $18 billion in memory chip business

SEOUL: Samsung Electronics will invest nearly $18 billion in its chip business, the South Korean firm said Tuesday, as it seeks to expand its lead in the global memory chip and smartphone markets.  The world's top maker of smartphones and memory chips will invest 20.4 trillion won ($17.7 billion) by 2021 to expand and upgrade its chip plants in the South Korean cities of Pyeongtaek and Hwaseong, it said in a statement. The factory in Pyeongtaek, 70 kilometres (44 miles) south of Seoul, is the world's biggest and has…