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PYEONGCHANG, SOUTH KOREA – Lithuania’s President Dalia Grybauskaitė met with Samsung’s Executive Vice-President Won-Kyong Kim and head of Samsung Electronics Baltics Byung Hee Choi on Saturday in PyeongChang, South Korea. At the meeting, investment possibilities through the establishment of research and development and engineering centers as well as manufacturing divisions in Lithuania were discussed.
The President underscored that Lithuania had deservedly earned the trust of major foreign investors. Favorable business conditions, highly qualified and talented people, experience in the most innovative digital, communications and financial technologies – this was Lithuania’s strength already discovered by such companies as Barclays, Nasdaq, Uber, Continental, and others. They may prove to be useful to Samsung as well.
Lithuania ranks 16th in the World Bank’s Doing Business Index and is ahead of such countries as Ireland, Germany and Switzerland. Lithuania is among global leaders in terms of information and communication technologies infrastructure – we enjoy the world’s fastest fiber internet and Europe’s largest 4G mobile network. Lithuanian lasers, which are well known in South Korea, are used in 90 out of 100 world’s best universities. Lithuania is also becoming a regional center for life sciences and financial technologies.
At the meeting, Samsung’s initiatives to promote children’s digital skills and other corporate social responsibility projects were discussed.
Samsung is the world’s second largest tech company with over 300 thousand people working in 79 countries. Samsung has established 34 scientific research centers with investment reaching 13 billion US dollars in 2016 alone.