As businesses assessed the damage and began digging out, the picture wasn't as gloomy as they might have feared - WSJ, on the tsunami that killed thousands
KOREAN ELECTRONICS GIANT Samsung plans to open a fab in China to produce flash memory chips.
Samsung is the world's largest memory chip maker but has for the most part kept its plants within South Korea. If plans for Samsung's $4bn 20nm flash memory plant go through, it will be only the company's second plant outside South Korea and the first in China.
Jun Dong-soo, president of Samsung's memory business said in a statement that the new fab "will enable us to meet fast growing demand from our customers and at the same time strengthen our overall competitiveness in the memory industry."
Dong-soo's comments highlight the growing Chinese market for flash memory chips as firms such as Huawei and ZTE push ever greater numbers of smartphones into the market. Samsung is busy cooking chips for devices such as Apple's Iphone and Ipad, while many other smartphone and tablet makers look towards Samsung to fill their memory needs.
Samsung has made no secret of its desire to also build a flat-screen production plant in China, as the country's appetite for consumer electronics is set to boom, overtaking the US.
The firm has filed an application with the South Korean government in order to proceed with its plans to create a foreign production facility. The firm's expansion into China will depend on whether the government thinks building a plant in China will damage Korea's technology industry. µ
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