Corporate News : SAMSUNG Electronics Opens? 20 million European Research Institute in the UK(SEOUL, Korea) - Samsung Electronics Co. (SEC) has chosen the UK for the location of its new ?0 million Research Institute for Europe which was officially opened yesterday, May 17.
As the company intensifies its presence in European markets with new manufacturing sites, it is simultaneously establishing research and development operations that will facilitate further growth and productivity.
The ?0 million (US$30.2 million) institute is part of the ?50 million investment figure Samsung announced last October when The Queen officially opened the company's integrated production facility at Wynyard Park in Teesside, UK, which manufactures PC monitors and microwave ovens.
Samsung has recently set up a second integrated manufacturing complex in Europe. Last month The King of Spain opened Samsung's ?5 million TV/Video production complex in Barcelona.
Samsung's continuing investment in Europe is part of its globalisation strategy. The expansion of R&D operations in Europe will enable Samsung to develop this area to the highest standards and become more competitive in product design and new technology in the European market.
Samsung Electronics Research Institute (SERI), which is based in Middlesex, will provide R&D support across Europe for Samsung's production complexes focusing on technological development and product design for a number of areas including telecommunications, audio/visual, multimedia and other consumer electronic products.
The institute will create 70 jobs by the end of 1996. Samsung will recruit engineers locally as well as across Europe.
Commenting at the opening, Mr. S R Choi, President and CEO of Samsung Europe said, "The opening of Samsung Electronics Research Institute and the considerable investment demonstrates Samsung's commitment to Europe. Our intensified presence in Europe will further establish Samsung as one of the world's leading companies."
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