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Tuesday, November 08, 2005
Samsung to Invest US$44.9 BLN on R&D

Samsung said Tuesday it will invest 47 trillion won (US$44.9 billion) in research and development over the next five years.

The envisioned investment will focus on developing its core business sectors such as semiconductors, displays and mobile communications, Samsung said.

Investments will be also made in other high value-added sectors -- energy, high-end shipbuilding, and storage equipment -- which the company expects will provide more growth momentum.

Samsung unveiled the plan at the company's annual technology fair with about 200 Samsung officials including Yun Jong-yong, vice chairman of Samsung Electronics Co., in attendance.

Through the R&D investment, Samsung said it will strengthen its market prowess in its dominant areas, while finding new growth engines in burgeoning sectors.

To that end, Samsung said it will recruit a total of 30,000 researchers over the next five years.

"The key to survival in the 21st century is to create new markets through technological innovation," said Lee Yoon-woo, Samsung's chief technology officer.

"We have to focus our efforts on enhancing our R&D capacity to realize our goal of becoming the world's No. 1 company," he added.

Samsung expects that the investment will generate more sales, which it hopes will expand to 270 trillion won by the time the investment is completed.

In a separate move, Samsung said it will invest a combined 5.2 trillion won to stimulate joint research with colleges and provide support for its affiliate companies to upgrade their competitiveness.

The announcement comes a few days after Samsung Electronics, the company's flagship unit, said it is seeking to double its revenue by 2010 to become one of the world's top three electronics makers.

Samsung said it plans to announce the company's mid- and long-term R&D plans at the technology fair in the future.

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