Not only is Samsung in talks with the government to build a next generation NAND flash manufacturing unit, but it’s also ploughing $682 million (770.7 billion won) into 4,539 of its business partnership enterprises with its 11 affiliates this year to help them boost their competitiveness.
It has said most of this cash will go into research and development.
Samsung and head honchos from its 11 affiliates including Samsung Electronics, Samsung SDS, Samsung Techwin and Samsung Mobile Display, sat down with the Fair Trade Commission earlier this week and signed an agreement for “fair trade and mutual growth” at its headquarters in Seocho-dong.
It’s also promised that it will work hard to eradicate corrupt business practices including bribery and fraud – things that the company has had its fair share of in the past. Most recently it was fined a record amount for obstructing government officials during a fraud investigation.
However, it may be working hard to clear its name and sweeten up the Chinese government following an announcement that it wants to build its NAND factory in Xi’an, the capital of China’s Shaanxi Province. It has said that it now plans to have discussions with government officials and will sign a memorandum of understanding for the project.
If it gets the green light the factory will be the second overseas semiconductor plant for the company and building work will commence.