Samsung's 2011 investment likely to top 30 tln won

Samsung Electronics Co., the world's top computer memory maker, will likely spend more than 30 trillion won ($26.67 billion) in investment this year, industry sources said Tuesday.

   The forecast came a day after company chairman Lee Kun-hee said that the company's investment for this year will be larger and bigger than last year's. The company earmarked 26 trillion won

(US$23 billion) for investment in early 2010, including 18.2 trillion won in capital expenditure.

    "Samsung is likely to execute a record amount of investment this year to consolidate its leadership in its main businesses and to make a push into its new businesses for growth," said an industry source. "Given Lee's strong will, the investment could possibly be over 30 trillion won."

   Samsung, also the world's largest maker of liquid-crystal display (LCD) panels and the No. 2 player in the mobile phone industry, hinted at another big expenditure in computer memory chips and LCD lines this week.

   Along with industry runner-up LG Display Co., it received approval from the Chinese government to build new LCD production lines in China.

   Samsung is among the family-owned South Korean conglomerates that eye record investment as they seek to speed up their search for new growth and widen gaps with second-tier rivals in their main businesses.

   LG Group, which has LG Electronics Inc. and LG Display under its wing, also set aside 21 trillion won for investment this year.

(Yonhap News)