Samsung Group makes $6.83 million investment in semiconductor startup

Samsung has reportedly made an 8 billion won ($6.83 million) investment in Korean semiconductor startup IVworks, as part of its efforts to support local small and medium-sized semiconductor companies together with the Korean government.Business Korea reports that IVworks is a producer of core materials needed for semiconductor manufacturing. It managed to produce 8-inch gallium nitride-silicon and 4-inch gallium nitride-silicon carbide epiwafers, becoming the first company to do so in South Korea.Samsung’s own semiconductor business could benefit from thisSamsung Group’s investment arm will likely benefit from this investment in the long run, as it does with many other startups that have received funding from it. However, the company’s own semiconductor arm could also benefit from having a local supplier of core materials nearby. Trade restrictions have caused issues for the company’s supply lines before, with the more recent hit affecting its display division, and Samsung always aimed for self-sustainability. Therefore, more local suppliers should technically benefit the company.Samsung owns the most prolific semiconductor business in the world, and although its top spot might be under threat from Intel, the company has plans for massive investments over the next decade to remain the industry’s top dog. But fostering startup companies through Venture Investment, Next Fund, and Catalyst Fund is something that Samsung Group has been doing for a while, and it usually leads to innovation and advancements in technologies.