[THE INVESTOR] Samsung Electronics said on Aug. 14 it has joined forces with Seoul National University to provide scholarships and research project funds, as it seeks to foster a foundation for the growth of Korea’s chip industry.

Earlier this month, the tech giant said it would invest 180 trillion won (US$158 billion) over the next three years, with 100 billion won allocated to local institutions.

Under the program with SNU, Samsung said it will support researchers of physics, mathematics, and chemicals to foster the country‘s capabilities in basic sciences.

The tech giant, flagship of Korea’s largest conglomerate Samsung Group, plans to help the university hire experts in the semiconductor industry, and share its top-notch research infrastructure.

Samsung said the decision came as the chip industry calls for professionals of different fields, from basic sciences to engineering, with the area becoming more complicated following the development of artificial intelligence, fifth-generation network, and Internet of Things technologies.

Kim Ki-nam, who heads Samsung’s device solution division, said it is important to vitalize universities’ academic research and foster experts to continue the development of the chip industry.

The university welcomed the move, saying Samsung’s infrastructure will help the institution improve its research projects.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)