Samsung Electronics Co., Ltd. (005930) To Invest $4.5 Billion In R&D Centers
Samsung Electronics Co., Ltd. (KRX:005930) is going to invest 5 trillion won ($4.5 billion) to build 5 research and development centers in Korea during the next three years. Samsung spent 800 billion won in building a research institute in Suwon to develop smart devices called R5. He is also going to spend 1.2 trillion won to build a design center in Woomyeon-dong, Seoul. The center will start operations in June 2015. Around 10,000 Samsung designers and developers will be employed at the design center.
“R&D is crucial to ensuring success in the rapidly-changing consumer electronics industry. Total investment will amount to 5 trillion won,” said Samsung in an interview with The Korea Times.
Samsung is also going to build new research centers in Pyeongtaek and Hwaseong to focus on chips and flat-screen TVs. Samsung will receive financial packages to lower their infrastructure costs. These centers will open in 2014.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry