(Yuanta Securities)
In response to Samsung Electronics’ decision to invest 240 trillion won, there was an opinion that the proportion of semiconductor and equipment industries should be increased.
The day before, major affiliates, including Samsung Electronics, announced plans to create an ecosystem for investment and employment and a win-win industry. The plan included an investment of 240 trillion won over the next three years to foster strategic industries such as semiconductors and biotechnology.
Of this, 180 trillion won will be invested in Korea. The plan is to secure leadership in strategic business based on investment, and to focus on strengthening technology-based market leadership through M&As.
On the 25th, Lee Jae-yoon, a researcher at Yuanta Securities, said, “About 140 to 150 trillion won of Samsung Group’s 180 trillion won investment from 2018 to 2020 was for Samsung Electronics’ execution. It is expected that this will be the execution portion of Samsung Electronics.”
The researcher emphasized, “We believe that this is an event in which Samsung Electronics’ semiconductor capex and business direction have become clear over the next three years.”
“We expect to widen the gap with latecomers by focusing investments on EUV DRAM, 3D NAND, and foundry front end processes,” he said. We maintain Overweight on QnC and Test.”
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