Samsung raises the moon with the R&d Fund

  • Samsung raises the moon with the R&d Fund
    Independent.t. E.
    Samsung, the largest conglomerate in South Korea, plans to invest 180trn won (€140 billion) to increase its ability to produce memory chips and other goods vital for future growth, supporting President moon Jae-in efforts to support the economic recovery.
    https://www.independent.ie/business/technology/samsung-boosts-moon-with-rd-fund-37197619.html
    https://www.independent.ie/business/technology/article37197618.ece/385c8/AUTOCROP/h342/2018-08-09_bus_43119658_I1.JPG

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Samsung, the largest conglomerate in South Korea, plans to invest 180trn won (€140 billion) to increase its ability to produce memory chips and other goods vital for future growth, supporting President moon Jae-in efforts to support the economic recovery.

Spending will increase spending on research in the field of artificial intelligence fifth generation wireless networks, bio-pharmaceutical products, displays, semiconductors, and other key programs over the next three years, according to Samsung electronics, the jewel of the crown group.

Almost three-quarters of these investments will be made at home, the statement said.

Samsung made the announcement days after its de facto chief, J. g Lee, met with the Minister of Finance Kim Dong-Yeon, a chip plant South of Seoul.

The company published last year record profit and continues to drive global rally for semiconductors, a world leader in sales of smartphones and screens supply for Apple iPhone H.

“Samsung is brimming with cash right now,” said Kwon sung ryul, an analyst at dB Financial Investment in Seoul.

“There is a political side, because the government favours the creation of jobs and attracting investment at home.”

Investment is a boon for moon, public approval, whose ratings have been exhausted.

Consumption has slowed, unemployment is growing and investment has cooled since he came to power last year. Samsung has said it would hire 40,000 more people, while the investment itself can help create 700 000 jobs in the country.

Samsung has a reputation for moving forward with investment, even when the participants are preparing for the slowdown strategy, which has helped him to reach the world’s largest chip manufacturer after surviving one crisis after another.

Samsung this year has finished building the world’s largest smartphone factory in India, despite the fact that the Chinese market share is shrinking.

Vice-Chairman Li met the Moon at the Indian factory this year, his first meeting with the leader of the nation, was released in February on a suspended prison sentence for a corruption conviction.

Lee left after a year out of prison at the facility South of Seoul after his arrest on charges of bribery each predecessor of the moon, Park Geun-Hye.

Lee, who led Samsung, since his father became ill in 2014, denies wrongdoing and appealed the court’s decision.

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