Samsung Electronics on Friday held a groundbreaking ceremony for its new semiconductor research and development (R&D) complex, in a bid to cement its global leadership in advanced chip technology.
The South Korean tech giant plans to invest about $15.06 billion by 2028 for the 109,000 square meter complex at its Giheung campus in Yongin, 50 km south of Seoul.
The planned facility should help Samsung lead in the areas of advanced research for memory and system semiconductors.
The ceremony drew around 100 Samsung executives and employees, including Vice Chairman Lee Jae-yong, who received a presidential pardon last week for his bribery conviction involving ousted former chairman Park Geun-hye, reports the Yonhap news agency.
This marked Lee’s first public appearance after his pardon.
“We are starting a new challenge at the Giheung Campus, where the first shovel to build a semiconductor factory took place 40 years ago,” Lee said. “Let’s continue the tradition of technology-driven front-end investments. Let’s create the future with technology that currently doesn’t exist in the world,” he added.
Industry watchers see Lee’s visit to campus as a sign that the Samsung heir is determined to help the country tackle recent economic issues by advancing the country’s semiconductor prowess. .
Following his pardon, Lee said last week that he would work harder to live up to 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 overseas partners in materials, parts and equipment through the construction of the R&D complex.
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