Samsung Electronics sets ground at new semiconductor R&D facility in South Korea

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Samsung Electronics sets ground at new semiconductor R&D facility in South Korea

SEOUL Samsung Electronics broke ground on Friday at a new semiconductor research and development R&D complex in South Korea, where it plans to invest about 20 trillion won $15 billion by the year 2028 to drive leadership in chip technology.

The world's largest memory chip maker and second-largest chip contract manufacturer said the new facility in Giheung, south of Seoul, will lead advanced research on next-generation devices and processes for memory and system chips, as well as the development of new technology based on a long-term roadmap.

Samsung Electronics is trying to overcome the limits of semiconductor scaling, it said in a statement.

The groundbreaking ceremony was attended by top executives, including Jay Y. Lee, who was recently pardoned by Samsung Electronics Vice Chairman.

Lee said during the ceremony that we need to continue our tradition of investing pre-emptively and emphasizing technology.

Lee and chip business employees met with executives to discuss ways to expand semiconductor leadership, Samsung said.