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STORY: The U.S. is set to give Samsung a subsidy of over $6 billion to expand production in Texas.

That’s according to two Reuters sources.

They say the move will be unveiled next week, and will support construction at facilities across the state.

As part of the deal, Samsung will double its investment in the U.S. to over $44 billion.

There was no comment on the report from Washington or the company.

However, the two sides have been courting each other for a long time.

Back in 2022 U.S. President Joe Biden toured a Samsung plant in South Korea.

“So, this is the moment, in my view, to invest one another, to deepen our business ties, to bring our people living closer together.”

Speaking during the visit, South Korean President Yoon Suk-yeol urged Biden to provide incentives for firms from both nations to invest in each other’s countries.

Now the new deal would be the latest in a series.

One of the sources said it would be almost as big as an earlier move to grant Taiwan’s TSMC $6.6 billion in support.

Last month, U.S. giant Intel was awarded even more.

It all comes under the terms of the Chips and Science Act, passed two years ago.

The legislation provides for almost $53 billion in subsidies, and is meant to reduce U.S. dependence on China and Taiwan in the supply of semiconductors.