# Samsung Elec breaks ground on new chip R&D centre, plans $15 billion investment by 2028
Published: 2022-08-19
Category: Headlines
Category URL: https://blockchaintribune.com/category/headlines/
Meta Title: Samsung Breaks Ground on $15B Semiconductor R&D Complex in South Korea
Meta Description: Samsung invests in new facility for advanced research on next-gen devices and chip tech. Seeking to lead in semiconductor innovation.
URL: https://blockchaintribune.com/samsung-elec-breaks-ground-on-new-chip-rd-centre-plans-15-billion-investment-by-2028/

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SEOUL (Reuters) – Samsung [Electronics](https://blockchaintribune.com/samsung-electronics-wins-cutting-edge-ai-chip-order-from-japans-preferred-networks/) 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](https://blockchaintribune.com/automotive-semiconductor-market-surges-to-usd-77-76-billion-by-2030-propelled-by-8-1-cagr-verified-market-research/) 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 pre-emptively and emphasizing technology,” Lee said during the ceremony.

Lee later met chip business employees and separately met with executives to discuss ways to secure technology to expand semiconductor leadership, [Samsung](https://blockchaintribune.com/samsung-agrees-to-acquire-british-startup-oxford-semantic-for-ai/) said.

($1 = 1,327.7500 won)

(Reporting by Joyce Lee; editing by Richard Pullin)


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