Samsung Begins Work On $15 Bn Next-gen Chip R&D Facility

Samsung begins work on $15 bn next-gen chip R&D facility

Seoul 19th, August 19 : Samsung Electronics on Friday hosted a groundbreaking ceremony for its new research and development (R&D) complex in Seoul, in a move to increase its position as a global leader in the latest chip technologies.
The South Korean tech giant plans to invest $15.06 billion in 2028 to construct the 109,000 square-meter complex that is part of the Giheung campus in Yongin located 50 kilometers to the south of Seoul.

 Samsung Begins Work On $15 Bn Next-gen Chip R&d Facility-TeluguStop.com

The planned Facility is expected to assist Samsung take the lead in fields of advanced research in system and memory semiconductors.

The event was attended by around 100 Samsung employees and executives including Vice Chairman Lee Jae-yong who was granted the presidential pardon this week in connection with his conviction in bribery that involved former President Park Geun Hye, according to Yonhap news agency.

It was Lee’s first appearance in public following his pardon.

“We are tackling a new task in the Giheung campus which is in the same place where the initial shoveling for a semiconductor plant was done forty years ago,” Lee said.”Let’s Carry on the tradition of technology-focused, upfront investment.Let’s build the future with technology that isn’t available in the worldtoday,” he added.

Industry observers view Lee’s visit as an indication that the Samsung heir is committed to assisting the nation in combating the current economic crisis by further developing the country’s semiconductor capabilities.

After his pardon Lee announced last week he will be more determined to fulfill his duties as an entrepreneur and “help the economy by creating more jobs for the young.”

Samsung has announced plans to increase cooperation with foreign and domestic partners in the area of parts, materials and equipment by the building of the R&D complex.

na/

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