[photopress:samsung_70inch_lcd_tvpanel.jpg,full,alignright]Samsung is to invest US$5.99 billion in China’s mainland this year. The plans of the South Korean company include a RMB1.05 billion (US$143.83 million) liquid crystal display panel manufacturing plant in Suzhou, Jiangsu Province.
In 2006, Samsung invested US$5.01 billion in the mainland and generated revenue of US$29.6 billion, a 17% increase compared with 2005.
(Note that all this investment is not just in IT. Samsung is a Korean zaibatsu with interests ranging across a very wide spectrum. For example, and this is by no means comprehensive, it covers the securities, insurance and real estate industries. And, probably to your surprise, the company recently built a hotel in Suzhou. And it influences fashion through the Samsung Fashion Trading Co. Samsung employs 50,000 people in China so it is a fair-scale, and much diversified, operator.)
After the completion of its expansion plans in 2008, Samsung will produce the panels for LCD TVs on the Chinese mainland for the first time.
Source: Shanghai Daily