News Karnataka
Thursday, September 29 2022
Technology

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

Samsung begins work on 15 bn nextgen chip RD facility
Photo Credit : IANS

Seoul: Samsung Electronics on Friday held a groundbreaking ceremony for its new chip research and development (R&D) complex here, in a move to bolster its global leadership in cutting-edge chip technology.

The South Korean tech giant plans to invest around $15.06 billion by 2028 for the 109,000-square-meter complex within its Giheung campus in Yongin, 50 kms south of Seoul.

The envisioned facility is expected to help Samsung lead in areas of advanced research for memory and system semiconductors.

The ceremony drew some 100 Samsung executives and employees, including Vice Chairman Lee Jae-yong, who received a presidential pardon last week for his bribery conviction involving former ousted President Park Geun-hye, reports Yonhap news agency.

It marked Lee’s first public appearance after his pardon.

“We start a new challenge at the Giheung campus, where the first shoveling to build a semiconductor factory took place 40 years ago,” Lee said. “Let’s continue the tradition of technology-oriented, up-front investment. Let’s create the future with technology that currently does not exist in the world,” he added.

Industry watchers see Lee’s visit to the campus as a sign that the Samsung heir is dedicated to supporting the nation in tackling recent economic woes by further advancing the country’s semiconductor prowess.

Following his pardon, Lee said last week that he will work harder to fulfill his responsibility as a businessman and “help the economy by creating more jobs for young people.”

Samsung said it plans to strengthen cooperation with domestic and foreign partners in the field of materials, parts and equipment through the construction of the R&D complex.

Read more:

Samsung Galaxy Watch5 Series for India to start at Rs 27,999

Samsung Electronics will supply 5G solutions, equipment to Airtel

Samsung’s Repair Mode will secure your data during repair

Samsung hires chip expert from rival Apple

Samsung captures Rs 1 lakh+ smartphone market in India

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published.

Visit 7Jackpots and find the best online casinos in India! Play the most popular casino games for real money!

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp