The rich keeps on getting richer is one mantra that we seem to hear a lot, and the other one bandied about by companies to justify their spending would be this – you have to spend money if you want to make more money. Well, Samsung certainly subscribes to that particular idea, which is why the South Korean conglomerate will be forking out approximately $4.5 billion (after conversion) to construct not one, neither two, but five R&D centers in the coming three years ahead.
Other countries who might be licking their lips at this news can kiss goodbye to ideas of a lucrative FDI (Foreign Direct Investment), as all five of these R&D centers will be located in South Korea itself, spearheaded by a $1 billion research center which is tipped to open in the south of Seoul sometime in late 2015. It is said that that building alone will be able to hold 10,000 employees, where its main focus would be on design. Samsung also has plans to dedicate new R&D centers when it comes to materials and component development, in addition to chips and displays. Looks like Samsung will continue to roll out interesting stuff for the home and road warrior in the years to come!
Filed in . Read more about Investment and Samsung.