Monday, September 6, 2010

Samsung's U.S. $ 26 billion budget for new business

Samsung's U.S. $ 26 billion budget for new business ; Samsung Electronics Co., the world's largest electronics company, plans to invest U.S. $ 26 billion (30 trillion won) in the next year to help the company expand into new business. "The value of these investments increased from investing 20 trillion won this year," explained Chief Executive Officer Choi Gee Sung to the Korea Economic Daily newspaper quoted by Bloomberg, today. As confirmed by electronic mail, the company confirmed that the investment plan.

Samsung's share value increased by 2.5% up to a level of 780 000 won, yesterday, the highest since July 14. According to Daewoo Securities Co. analyst James Song, a company based in South Korea, this new business investment to secure future business growth.

Last month, Samsung Electronics Co. is also the largest semiconductor manufacturers in Asia announced plans to invest U.S. $ 3.6 billion in Austin, Texas, to increase the capacity of an electronic component factory 12 inches. Samsung spokesman Bill Cryer proposed new facility would be used to form large-scale integration (large scale integration / LSI) business. The company also plans to add new jobs for 500 people.

He explained that the factory is managed by the unit of Samsung Austin Semiconductor LLC and is scheduled to begin full operation in late 2011. On May 17, Samsung announced it would increase spending on semi-conductor business doubled to about U.S. $ 8.7 billion (11 trillion won) this year from 4.5 trillion won during 2009.

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