In his first public remarks on the group’s largest-ever 450 trillion won ($355 billion) five-year investment plan, Samsung Electronics Vice Chairman Lee Jae-Yong said, “It’s not a matter of numbers, it’s ‘do it or don’t The question of do or die.”
According to the “Korea Economic Daily” report on the 26th, on the same day, before the symposium of SME entrepreneurs chaired by South Korean President Yoon Seok-hye, Lee Jae-Yong answered a question about the large-scale investment plan and said: “We will look forward and continue. go ahead.”
Compared with the 330 trillion won invested in the past 5 years, the new five-year investment plan has increased by 120 trillion won. That means the world’s largest maker of memory chips and smartphones will increase its investment by more than 30% annually until 2026.
The investment plan demonstrates Samsung’s firm determination to consolidate its leadership in storage semiconductors and strengthen its competitiveness in other growth areas such as biotechnology, artificial intelligence, and 6G communications. Most importantly, Samsung is determined to surpass TSMC by 2030.
Park Jea-Gun, a professor at the Department of Electronic Engineering at Hanyang University, said: “Samsung must strengthen its research and development (R&D) and recruitment if it wants to maintain its leadership in the growing system (chip) market. Lee seems to be reminding himself and His employees, as latecomers (in the foundry market), need tremendous determination to surpass TSMC.”
Lee Jae-Yong has urged Samsung employees to forge ahead for future growth pillars. “Don’t be limited by your challenges, your work will be more rewarding in times of crisis,” he said at a November 2020 strategy meeting on improving product design.
Less than a year ago, Samsung also said it would invest 240 billion won in core businesses such as semiconductors, displays and biology over the next three years. In the future, Samsung may challenge its own limits in new areas such as artificial intelligence and biotechnology, where the group hopes to repeat the semiconductor success story.
In the field of biotechnology, Samsung is working to expand its biosimilars and CDM businesses. In addition, the tech giant has deployed the world’s first commercial 5G communications equipment and plans to maintain its current leadership in 6G and beyond.