Samsung Electronics announced its plan to invest over 110 trillion won (US$73.3 billion) this year in research and development and facilities for artificial intelligence (AI) semiconductors. This investment is aimed at solidifying its position in the competitive industry and capitalizing on the AI boom. The company’s disclosed plan, representing a 21.7% increase from the previous year, is its largest annual spending to date and the first time it has surpassed the 100 trillion won mark.
The tech giant also revealed intentions to pursue strategic mergers and acquisitions in various sectors such as robotics, medical technology, automotive electronics, and air conditioning solutions. Samsung is currently enhancing operational efficiency at its P4 plant in Pyeongtaek, south of Seoul, in response to the growing demand for chips. Additionally, preparations are underway for the establishment of the P5 production line through key equipment installations.
Furthermore, Samsung is expanding its manufacturing facilities in Yongin, south of Seoul, and constructing a new foundry in Taylor, Texas, in the United States, with plans to commence operations by year-end. On a different note, unionized workers at Samsung Electronics have announced a press conference following a vote to initiate a general strike over performance-based bonuses. The workers are set to demand the removal of bonus caps, a 7% wage increase, and increased transparency in bonus calculations during the upcoming events.
