Samsung €19.25 billion R&D for 5G, AI, SoC

Samsung €19.25 billion R&D for 5G, AI, SoC

There are plans to increase the number of advanced AI researchers at its AI centres to 1,000 while there will also be an expansion of its semiconductor manufacturing capabilities to cope with demand for AI, 5G, data centre and connected auto components. The company's move came as the sector calls for top-notch chip and display technologies, in which Samsung enjoys an edge over rivals. Samsung wants to pump more money into the division in order to maintain its dominance in the market.

Samsung said it plans to create 40,000 new jobs over the next three years.

The electronics giant revealed such plans on Wednesday as part of measures to revitalize the economy and create jobs.

The total planned investment of 6% exceeds the volume of investments in the last three years.

The wave of cash will also beef up Samsung's biopharmaceutical wing, the company said.

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Samsung's second quarter profit dipped slightly to 11.04 trillion won, down from 11.05 trillion won a year earlier. This will lead to the creation of an additional 15,000 jobs, Samsung said.

Samsung made the announcement days after its de-facto chief, Lee Jay Y, met with finance minister Kim Dong-yeon, at a chip factory south of Seoul.

With his case to be reviewed by the Supreme Court, coupled with incumbent President Moon Jae-in's drive to impose tougher restrictions on family-controlled conglomerates, industry watchers said Lee sought to recover the group's public reputation and build a better relationship with the government through the investment. The numbers being proposed are much higher than the 25,000 the company hired in the recent three years. Samsung's target is to provide support for 300 external candidates and 200 internal projects in the next five years.

Talented students will receive opportunities to work at overseas research centers under cooperation with Samsung.

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