# 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://entrepreneurtribune.com/category/headlines/
Meta Title: Samsung breaks ground at new R&D complex in South Korea
Meta Description: Samsung Electronics is investing heavily in chip technology with a new R&D facility in South Korea to drive innovation in memory and system chips.
URL: https://entrepreneurtribune.com/samsung-elec-breaks-ground-on-new-chip-rd-centre-plans-15-billion-investment-by-2028/

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SEOUL (Reuters) – Samsung Electronics said on Friday it broke ground at a new [semiconductor](https://entrepreneurtribune.com/automotive-semiconductor-market-surges-to-usd-77-76-billion-by-2030-propelled-by-8-1-cagr-verified-market-research/) 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](https://entrepreneurtribune.com/samsung-agrees-to-acquire-british-startup-oxford-semantic-for-ai/) 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](https://entrepreneurtribune.com/automotive-semiconductor-market-surges-to-usd-77-76-billion-by-2030-propelled-by-8-1-cagr-verified-market-research/) leadership, Samsung said.

($1 = 1,327.7500 won)

(Reporting by Joyce Lee; editing by Richard Pullin)


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