Samsung builds new R&D location for almost 15 billion euros

Samsung is investing 20 trillion Korean won, equivalent to almost 14.9 billion euros, in a new research site for research and development of semiconductors. The investment will take place over a period of about six years.

The new R&D site is part of the Giheung campus, located in South Korea’s Gyeonggi province, which also includes the capital, Seoul. The location is to be taken into use from 2025 and will be more than 100,000 square meters in size.

“Our new R&D complex should become a hub for innovation where talents from around the world come together to grow,” said chief executive Kye Hyun Kyung in a press release. The location should help Samsung to grow in the semiconductor industry.

The Giheung campus has served as one of the key locations for Samsung for some forty years. For example, in 1992 the first 64Mb dram was made in the same place. “If we hadn’t made bold investments in R&D then, Samsung wouldn’t have been part of the semiconductor industry today.”

In addition to Kye, many other senior Samsung executives attended the ceremony at the location. Most notable was the presence of ex-Samsung president Lee Jae-yong, who was convicted of bribery. Lee was pardoned earlier this month after being convicted of bribing former South Korean President Park Geun-hye. Meanwhile, he is vice-chairman at Samsung Electronics.