Samsung (OTCPK:SSNLF) said on Friday that it had started building a new semiconductor research and development complex with the intent to invest up to KRW 20T ($15B) by 2028 “to extend its leadership in state-of-the-art semiconductor technology.”
The South Korean technology giant said that it would make the investment in an area covering 109,000 square meters in its Giheung, South Korea campus.
Samsung (OTCPK:SSNLF) noted that the new facility would focus on next-generation devices, as well as processes for memory and system semiconductors. Samsung (OTCPK:SSNLF) is one of the largest companies in the memory chip market, along with Micron Technology (MU) and Hynix.
The new facility would also focus on the development of new technologies, Samsung (OTCPK:SSNLF) added.
“Our new state-of-the-art R&D complex will become a hub for innovation where the best research talent from around the world can come and grow together,” said President Kye Hyun Kyung, in a statement.
“We expect this new beginning will lay the foundation for sustainable growth of our semiconductor business.”
Last week, Samsung (OTCPK:SSNLF) showed off several new products at its Galaxy Unpacked event, including two new foldable smartphones, smartwatches and headphones.