Asia Tech Wire (Oct 8) -- Samsung Electronics Chairman Lee Jae-yong said in an interview with Reuters on Monday that the company has no intention of spinning off its contract chip manufacturing business and its logic chip designing operations.

He said, "We are hungry to grow the business. Not interested in spinning (them) off."

Lee also admitted that Samsung Electronics is facing challenges with the chip factory it is building in Taylor, Texas, "That's a little bit tough because of (a) changing situation, election."

Samsung Electronics previously disclosed plans to invest $17 billion in Taylor, expanding the scale of a semiconductor factory under construction and investment targets until 2030 for a total investment of $45 billion.