Samsung initiates work on $15 bn next-gen chip at R&D complex

Samsung Electronics on Friday held a groundbreaking ceremony for its new semiconductor research and development (R&D) complex here, in a move to bolster its global leadership in cutting-edge chip technology.

The South Korean tech giant plans to invest around $15.06 billion by 2028 for the 109,000-square-meter complex within its Giheung campus in Yongin, 50 kms south of Seoul.

The envisioned facility is expected to help Samsung lead in areas of advanced research for memory and system semiconductors.

The ceremony drew some 100 Samsung executives and employees, including Vice Chairman Lee Jae-yong, who received a presidential pardon last week for his bribery conviction involving former ousted President Park Geun-hye, reports Yonhap news agency.