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| Jay S. Chang, left, who heads Samsung Research Funding & Incubation Center for Future Technology, speaks during a news conference held in central Seoul, Monday, to mark the fifth anniversary of the launch of Samsung Electronics' project to nurture future technologies, together with Kuk Young, center, who chairs Samsung Science and Technology Foundation, and Kwon Oh-kyong, president of the National Academy of Engineering of Korea. / Courtesy of Samsung Electronics |
By Jun Ji-hye
Samsung Electronics will invest 1.5 trillion won ($1.3 billion) through 2022 to finance a range of studies about future technologies such as artificial intelligence (AI), internet of things (IoT) and fifth-generation (5G) networks.
The company has already invested 540 billion won since August 2013.
The investment is part of the firm's decade-long project, launched in August 2013, to foster new researchers and fund ambitious projects to enhance the nation's capabilities in science and technology.
When launching the project, the firm opened the Samsung Science and Technology Foundation in charge of basic science, as well as the Samsung Research Funding & Incubation Center for Future Technology in charge of information and communication technologies.
During a news conference held in central Seoul to mark the fifth anniversary of the project, the firm said it has spent 538.9 billion won over the past five years to financially support 428 scientific projects, including 149 on basic science and 147 on ICT.
There have been about 7,300 beneficiaries including researchers from Seoul National University and Korea Advanced Institute of Science and Technology.
The remaining 960 billion won will continue to be invested until 2022 to bolster the country's competitiveness in technology and science.
The plan is in line with Samsung Group's announcement, made last week, to invest 180 trillion won over the next three years to nurture four new growth engines _ AI, 5G, biotechnology and components for electronic devices such as semiconductors.
Samsung Electronics noted its project will be coordinated with the group's large-scale investment plan.
"Samsung Electronics will offer not only financial support for research projects but also distinguished support programs utilizing the company's experience and knowhow to help researchers improve their performance," said Jay S. Chang who heads Samsung Research Funding & Incubation Center for Future Technology.
The company said the project will also contribute to creating decent jobs in scientific circles.
The firm noted its project has created new research culture by backing up challenging and creative research projects that had difficulty in receiving financial support from the government.
The firm has put much work into selecting beneficiaries fairly and objectively, it said, noting that the project has also been effective in discovering promising scientists.
"Through the project, we have made consistent efforts to change the climate in scientific circles over the five years and establish new research supporting models," said Kuk Young who chairs Samsung Science and Technology Foundation. "We will keep actively supporting researchers seeking to solve difficult problems and move on to bigger goals."
The company added that it will promote what it calls an "ecosystem of open innovation" by sharing the research results with various enterprises, universities, research centers and startups.
