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Samsung announces five-year R&D investment plan

Posted: 10 Nov 2005 ?? ?Print Version ?Bookmark and Share

Keywords:r&d? investment plan? samsung?

Samsung announced an ambitious $44.9 billion investment plan aimed at vastly expanding the R&D capabilities of Samsung affiliates in the areas of electronics, mechanics, and chemicals. The plan, which also envisions the recruitment of some 30,000 new R&D staff by the year 2010, should ensure Samsung's top-tier technological leadership through the next decade.

The five-year plan will focus on fortifying and expanding a set of 13 growth engines for Samsung's technology-related affiliates going forward. These growth engines include business areas where Samsung companies have already established leadership, including high-capacity memory, next-generation display devices, mobile telecommunications, and digital TVs.

The technology growth engines named in the R&D plan have been carefully selected for their superiority in market competitiveness, value-added potential, and as sectors that will help create new jobs. By focusing on these technologies, Samsung aims to lead a new technological paradigm that engages progressive technology developments such as the advancement of digitalization, broadband and ubiquitous access.

This new investment plan, which is part of Chairman Kun-Hee Lee's "technology readiness management" strategy, will be a crucial component in helping Samsung to achieve several major business goals by the year 2010. By that time, Samsung expects to raise the number of its leading-market-share products from the current 21 to 50 products across all affiliates. Additionally, by 2010, Samsung aims to achieve consolidated turnover across all companies of $257.9 billion, with a target of $28.6 billion in pre-tax income. Samsung's overall brand value is also expected to reach a target of $70 billion by 2010.

Vice Chairman Hak-Soo Lee commented on today's announcement saying, "In his New Management declaration in 1993, Chairman Kun-Hee Lee identified technology and human resources as critical building blocks for Samsung's growth. By implementing this newly established R&D plan, we can develop the technology that will drive Samsung's future."

Vice Chairman and CTO Yoon Woo Lee added, "In the 21st century, only companies that create and lead markets through innovative technology will survive. If Samsung wants to achieve its goal of being a top-tier company, we will have to put greater focus on our R&D capability."





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