In celebration of the 30th anniversary of the establishment of Suzhou Samsung Electronics Co Ltd, Samsung Electronics, a major subsidiary of South Korea’s giant Samsung Group, and Suzhou Chinese Consortium Holding Co Ltd (Chinese Consortium), an SIP-based company, signed a renewal agreement on Apr 21 to extend their partnership for another 30 years.

Samsung, one of the world’s largest electronics manufacturers, was among the first multinationals to invest in SIP. It has set up 11 projects for manufacturing, R&D, financial operations and services in the area since 1994, with a total investment exceeding US$1.2 billion.

Under the renewed agreement, the two parties will continue collaboration in running Suzhou Samsung Electronics, a company engaged in developing, manufacturing and marketing refrigerators, air conditioners, washing machines, compressors and related parts and components.

Covering 170,000 square meters and employing over 3,200 staff members, the joint venture plans to introduce a high-end medical device production line this year to expand and diversify Samsung’s business portfolio in the area.

April 21, 2025