Samsung Electronics breaks ground on new chip R&D center, plans to invest $15 billion by 2028

Aug 19 (Reuters) - Samsung Electronics said on Friday it broke ground on a new semiconductor research and development center (R&D) in South Korea, with plans to invest about 20 trillion won ($15 billion) by 2028 to boost chips Technology leadership.

Samsung Electronics said the new facility in Giheung, south of Seoul, will lead research on next-generation memory and system-on-chip processes and equipment, as well as new technology development based on a long-term roadmap, the report said.

"Samsung Electronics is seeking to overcome the limitations of semiconductor scaling," it said in a statement.

According to the report, Lee Jae-yong, the pardoned vice chairman of Samsung Electronics, attended the groundbreaking ceremony.

"We need to continue our tradition of pre-emptive investment and focus on technology," Lee said at the ceremony.

Samsung Electronics said that Lee later met with employees of the chip business and met with executives individually to discuss ways to secure technology to expand semiconductor leadership.