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The construction of a new semiconductor plant in Taylor, Texas was going smoothly and will be completed within this year as scheduled, Samsung Electronics Chief Executive Kyung Kye-hyun has said.

"The construction in Taylor is on track," Kyung, co-CEO at Samsung who is in charge of the tech giant's chip business, wrote in an Instagram post.

"The fab will be finished within this year and start producing the best products next year," he added.

Kyung also uploaded a photo of Williamson County Judge Bill Gravell giving him a Samsung Highway road sign, reports Yonhap news agency.

In December, the Williamson County Commissioners Court renamed the road, formerly known as Future County Road near the Samsung's Taylor fab site, as "Samsung Highway."

In November 2021, Samsung said it will build a $17 billion advanced chip facility in the city to "help boost production of advanced logic semiconductor solutions that power next-generation innovations and technologies".

It considered multiple factors in choosing the site, such as "the local semiconductor ecosystem, infrastructure stability, local government support and community development opportunities," on top of its proximity to Samsung's current manufacturing site in Austin, about 25 kilometers southwest of Taylor.