Samsung funds 7,300 researchers with 538.9 bln won over last 5 years

SEOUL, Aug. 13 (Yonhap) -- Samsung Electronics Co. said Monday its decade-long project, launched in 2013 to help South Korean researchers, has reached its half-way point, successfully bolstering the country's science capabilities.

The South Korean tech giant opened Samsung Science & Technology Foundation and Samsung Research Funding Center for Future Technology in August 2013, vowing to invest 1.5 trillion won (US$1.32 billion) throughout 2022 to provide financial support to local projects.

Samsung Electronics provided 538.9 billion won for 428 research projects to 7,300 researchers over the last five years.

The company said it has been making efforts to foster new researchers and fund ambitious projects to bolster the country's competitiveness in technology and science.

Examples of projects that received support from Samsung include the research conducted by Professor Yoon Tae-young, which centers on finding a customized cure for cancer. Professor Park Moon-jeong of POSTECH is studying devices that can be applied for people with arm and leg disabilities under the support from Samsung.

Samsung said it selects candidates through a transparent and professional procedure and does not hold researchers responsible even if the research does not generate meaningful results.

The company added it plans to continue to expand the project to cover emerging areas, such as artificial intelligence, Internet of Things, and fifth-generation network technologies.

colin@yna.co.kr
(END)