# Samsung Elec breaks ground on new chip R&D centre, plans $15 billion investment by 2028
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-08-19
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Samsung Electronics breaks ground on new semiconductor
Meta Description: Samsung invests in cutting-edge chip technology at new facility in Giheung, South Korea, with plans for next-gen devices and processes. Find out more.
URL: https://financedigest.com/samsung-elec-breaks-ground-on-new-chip-rd-centre-plans-15-billion-investment-by-2028html

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SEOUL (Reuters) – Samsung Electronics said on Friday it broke ground 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 2028 to drive leadership in chip technology.

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

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

The groundbreaking ceremony was attended by newly-pardoned Samsung Electronics Vice Chairman Jay Y. Lee and top executives.

We [need to continue our tradition of investing](https://www.financedigest.com/5-reasons-why-women-need-to-get-into-property-investing.html "5 Reasons why women need to get into property investing") pre-emptively and emphasizing technology,” Lee said during the ceremony.

Lee later met chip [business employees](https://www.financedigest.com/why-investing-in-employee-health-can-be-good-for-business.html "Why investing in employee health can be good for business") and separately met with executives to discuss ways to secure technology to expand semiconductor leadership, Samsung said.

($1 = 1,327.7500 won)

(Reporting by Joyce Lee; editing by Richard Pullin)


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