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Samsung To Invest $309 Billion Over Next 5 Years
Samsung To Invest $309 Billion Over Next 5 Years
The battery-making unit, Samsung SDI Co. is looking at establishing a domestic production line for next-generation batteries, including all-solid-state batteries, possibly in the southeastern city of Ulsan.
Seoul: South Korean tech giant Samsung Group unveiled on Sunday a 450 trillion-won ($309.1 billion) investment plan for the next five years, as part of broader efforts to ramp up domestic investment after Seoul concluded its trade deal with the United States.
Samsung Electronics Co., the crown jewel of the country's No. 1 conglomerate, will push to launch the framework construction of one of its chip plants in the main Pyeongtaek compound, home to Samsung's semiconductor manufacturing, the company said. The decision, which also includes investment plans for research and development, was reached at a recent ad-hoc management committee, it said, reports Yonhap news agency.
The new Line 5 chip production line is slated to begin commercial operations in 2028, helping the company better meet rising demand for memory chips amid the global surge in artificial intelligence (AI). Samsung SDS Co., the ICT unit of Samsung, will build a large-scale AI data center in South Jeolla Province in the country's southwest. The AI data center aims to acquire 15,000 graphics processing units by 2028 and provide them to universities, startups and small- and medium-sized enterprises.
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The battery-making unit, Samsung SDI Co. is looking at establishing a domestic production line for next-generation batteries, including all-solid-state batteries, possibly in the southeastern city of Ulsan.
Samsung Display Co. is set to begin full-scale production next year at its 8.6-generation organic light-emitting diode plant, currently under construction in the central South Chungcheong region.
The latest announcement came after South Korea finalized its trade deal with the US on the details of its US$350 billion investment package in the US. market in exchange for reducing U.S. "reciprocal" tariffs to 15 percent from 25 percent.
Earlier in the day, leaders of South Korea's major business conglomerates, including Samsung, SK and Hyundai, met with President Lee Jae Myung to discuss follow-up measures after the conclusion of the trade deal, including efforts to continue the domestic investment flows.
Source: ZeeNews
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