SEOUL, May 24 (Yonhap) — Samsung Electronics Co. said Tuesday it will invest 450 trillion won ($355 billion) in semiconductors and life sciences over the next five years, as the Electronic giant seeks to further develop its business in future growth engines.
The company said it would spend 360 trillion won, or 80 percent of the investment, on research and development and training talent in South Korea, especially in advanced chip manufacturing. The planned investment represents an increase of 120 trillion won from Samsung’s total investment of 330 trillion won over the past five years.
Samsung has named semiconductors, biopharmaceuticals, artificial intelligence and next-generation communication technologies as its future growth drivers.
The company will continue to boldly invest in the semiconductor industry, which has faced a chronic shortage of chips in recent years, and find new markets for further growth.
Samsung said in particular that it will seek to consolidate its leading position in the global memory chip market and at the same time improve its contract chip manufacturing business; which is far behind the Taiwanese company TSMC.
Samsung also wants the investment to foster a fabless ecosystem in South Korea, which in turn will drive the growth of electric cars, smart factories, robotics and smart home appliances.
The planned investment will be partly used to purchase advanced chip-making machinery from Dutch company ASML Holding, the world’s leading manufacturer of photolithography equipment, for example, and to create 80,000 new jobs until 2026 in the industries. chips and biotechnology.
The investment announcement comes four days after the South Korean tech giant received immense media attention both inside and outside the country, with US President Joe Biden picking the chip factory from Samsung as the first stop on its journey to Asia.
On Friday, Biden visited Samsung’s chip factory in Pyeongtaek, some 70 kilometers south of Seoul, along with South Korean President Yoon Suk-yeol and Samsung Electronics Vice Chairman Lee Jae-yong in a symbolic gesture illustrating the commitment of the two allies to cooperate in key industries, such as semiconductors.
The two leaders signed Samsung’s next-generation 3-nanometer silicon wafer, based on Gate-All-Around (GAA) technology, which Samsung will produce in the next two months.
Samsung reportedly showcased its next-generation semiconductor during Biden’s visit to highlight its foundry capabilities over TSMC, with the two companies in fierce competition to bring 3nm chips to market first.
According to industry observatory TrendForce, in the fourth quarter of last year, TSMC held 52.1% of the global foundry market, followed by Samsung with 18.3%.
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(LEAD) Samsung to Invest 450 Trillion Won in Chip and Bio Industries | Yonhap News Agency
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