Samsung raises Mega 2010 Investment Plan to 26 trillion won

May 17 2010, 1:52am CDT | by Luigi Lugmayr

Last week Samsung announced a record investment of 20 trillion won ($17.7 billion). Apparently Samsung felt that is not enough and raised today the 2010 investment to 26 trillion won (~$22 billion).
Approximately 18 trillion won will be invested in facilities including 11 trillion won for semiconductor manufacturing facilities and 5 trillion won to expand capacity for LCD panel production, while about 8 trillion will be invested in research & development.

"Although the global economic environment and business conditions remain changeable and uncertain, if we invest aggressively in expanding facilities and in hiring then these circumstances also present Samsung an opportunity for future growth and to stimulate the economy," Samsung Electronics Chairman Kun-Hee Lee told executives attending the ceremony.

With the investment in new manufacturing lines, Samsung expects to hire 10,000 new employees in 2010, including 3,000 for the Semiconductor Business and 4,000 for the LCD Business.

We can expect great new products from Samsung with this aggressive investment plan.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.