Samsung Electronics has won government approval for its plans to set up a memory-chip factory in China.

Giving it the go-ahead, Korea's Ministry of Knowledge and Economy said it would provide regular security consultancy to prevent any technology leaks.

Samsung, the world's biggest memory chipmaker, has been seeking to tap into the fast growing Chinese market.

The new plant will make chips used in smartphones, tablets and MP3 players.

Samsung's plant will produce Nand flash memory chips. According to analysis firm Gartner, the global Nand chip industry is set to be worth as much as $29bn (£18.5bn) this year.

A chunk of that growth is expected to come from China, where economic expansion and stronger consumer spending power has resulted in an increase in demand for hi-tech gadgets.

China is the world's second-largest economy and is set to account for 55% of global chip sales by 2015, Gartner said.

Source :bbc.co.uk