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| ▲ U.S. President Joe Biden (3rd from L) and South Korean President Yoon Suk-yeol (2nd from R) look around a Samsung Electronics chip plant in Pyeongtaek, 70 kilometers south of Seoul, on May 20, 2022, guided by Lee Jae-yong, the de facto leader of Samsung Group and Samsung Electronics vice chairperson. (Yonhap) |
Samsung-investment
Samsung to invest 450 tln won in chip, bio industries for next 5 years
SEOUL, May 24 (Yonhap) -- Samsung Electronics Co. said Tuesday it will invest 450 trillion won (US$355 billion) in semiconductor and bio science for the next five years, as South Korea's largest company seeks to further expand its business in future growth areas.
The company said it will spend 360 trillion won, or 80 percent of the investment, for research and development, and talent nurturing in South Korea, especially in advanced chipmaking.
The planned investment is up 120 trillion won from the total 330 trillion won Samsung invested over the past five years.
On Friday, South Korean President Yoon Suk-yeol and U.S. President Joe Biden toured Samsung's chip factory in Pyeongtaek, some 70 kilometers south of Seoul, in a symbolic gesture illustrating the two allies' commitment to cooperating in key industries, like semiconductors.
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