Seoul, March 19 (IANS). Samsung Electronics said on Thursday that it will invest more than 110 trillion won (about $73.3 billion) this year in research and development of semiconductor (chip) and facilities related to artificial intelligence (AI). The company aims to maintain its strong position in this fast growing and competitive industry.
The world’s largest memory chip maker disclosed the plan in a regulatory filing, saying it aims to strengthen its leadership in the sector amid the growing use of AI, according to a report by Yonhap news agency.
This investment is 21.7 percent more than last year’s 90.4 trillion won and is the largest annual expenditure in the company’s history. This is the first time the company’s annual investment has exceeded 100 trillion won.
The company also said it will explore significant merger and acquisition (M&A) opportunities in sectors such as robotics, medical technology, automobile electronics and air conditioning.
Samsung is currently working to improve operations at its P4 plant at the Pyeongtaek complex, south of Seoul, in response to increasing chip demand. Along with this, the company is also progressing the installation of necessary equipment for its proposed P5 production line.
In addition, the company is also building a new manufacturing unit at its chip cluster in Yongin, south of Seoul.
Even in America, Samsung is building a new factory in Taylor city of Texas and aims to start production there by the end of this year.
Meanwhile, unionized employees of the company have said that they will hold a press conference next week regarding performance-based bonus.
The employees have demanded removal of cap on bonus, 7 percent wage hike and transparency in bonus calculations.
The union said negotiations on the 2026 wage agreement had been going on for several months, but no agreement had been reached. Due to management not accepting their demands, now the employees have decided to agitate.
Employees also plan to demonstrate in Pyeongtaek on April 23 and strike from May 21 to June 7.
–IANS
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