Samsung Electronics Co Ltd said on Monday it would spend 748.5 billion won ($787.8 million) to upgrade its memory chip production lines and boost production capacity.

Samsung, the world's biggest maker of memory chips, said in a filing with the Korea Exchange the investment would be made within 2007 to meet growing demand for chips and improve its cost competitiveness.

Samsung did not give more details, including which type of memory chips the lines will be manufacturing.