The world's largest semiconductor and mobile maker, Samsung Electronics, announced on September 15th, 2022, that it would invest more than 7 trillion won ($5.02 billion) by 2030 as part of a broad environmental plan aiming at making the firm carbon neutral by 2050.
According to Kim Soo-jin, head of Samsung's ESG strategy group, the tech giant will use the funds for research and development of technology aimed at filtering out greenhouse gases and capturing carbon dioxide produced during chip production. The goal is to make its devices business carbon neutral earlier, by 2030. Additionally, it intends to increase the recycling of materials like plastic and lithium.
By 2050, South Korea likewise wants to have net zero emissions, but economists think this will be difficult for a nation with a sizable steel and shipbuilding sector. Stable and affordable energy is essential for the competitiveness of South Korean firms like Samsung's chip factories, but so far, renewable energy development has not kept pace with these demands.
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