SEOUL (Reuters) -Samsung Electronics said on Monday it has signed a contract valued at $16.5 billion to supply semiconductors to a major global corporation.
The world’s biggest memory chipmaker said in the regulatory filing the deal signed on Saturday was for contract chip manufacturing and said details of the agreement including the counterpart and terms would not be disclosed until the end of 2033.
Samsung Electronics declined to comment on the contract.
Shares in the tech giant opened up 3.5% on Monday.
Samsung Electronics is a major player in contract chip manufacturing, also known as foundry services.
While Samsung is the second-largest player in the industry, behind TSMC in market share.
($1 = 1,383.6800 won)
($1 = 1,383.6800 won)
(Reporting by Jack Kim, Jihoon Lee, Heekyong YangEditing by Ed Davies)
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