(Telecompaper) Samsung will invest KRW 15.6 trillion (USD 14.7 billion) into the a new cutting-edge chip manufacturing plant in South Korea, the Wall Street Journal reported, saying the company wants to maintain its lead in memory chips and grow beyond smartphones. Samsung said construction of the new chip plant will begin next year, with operations to start in 2017. The new plant will be located in Pyeongtaek, a city south of Seoul. The manufacturer has not yet decided what types of chips it will produce at the plant but said the investment will significantly influence the company's future semiconductor business.