Samsung has announced that it has begun building a new semiconductor research and development facility in South Korea’s Giheung. The company said that it’ll invest around $14.96 billion in the complex by 2028, and it hopes to use it to extend its position in the semiconductor sector to stay relevant.
Commenting on the news, head of Device Solution at Samsung, Kye Hyun Kyung, said:
“Our new state-of-the-art R&D complex will become a hub for innovation where the best research talent from around the world can come and grow together. We expect this new beginning will lay the foundation for sustainable growth of our semiconductor business.”
For those not familiar with South Korea’s geography, the new Giheung facility is located south of the capital Seoul. Together with the R&D line in Hwaseong and the world’s largest semiconductor production complex in Pyeongtaek, Samsung is hoping to “elevate the synergy among [its] three main semiconductor complexes in the metropolitan area.”
Samsung held a groundbreaking ceremony to celebrate the beginning of work on the new research complex. In attendance was Samsung Electronics Vice Chairman Jay Y. Lee, who was recently pardoned of his crimes in a bid to help the country’s economy.
2 Comments - Add comment