News

Samsung Plans $25 Billion IC Investment

December 06, 2004 by Jeff Shepard

Samsung Engineering Co. (Seoul, Korea) announced plans to invest $25 billion between now and 2010 with the aim of achieving sales of $200 billion. The investment plan, announced by Samsung Chairman Kun-Hee Lee, will create 10,000 new jobs. A large part of the investment will be used to build up Samsung’s mobile telephony business.

"Korea lacks natural resources and I believe that applying human intelligence in high-tech sectors is the best way for our country and this company to survive in the future," said Lee.