Samsung detailed a hefty investment in its System LSI and Foundry businesses in a bid to position it as the leading producer of memory semiconductors and logic chips by 2030.

Over the next 11 years, the company plans to invest a total of KRW133 trillion ($116 billion) in the businesses. In a statement, it said it plans to create 15,000 jobs in R&D and production to “bolster its technological prowess”.

Breaking the investement down, Samsung said it plans to allocate KRW73 trillion for domestic R&D and KRW60 trillion for production infrastructure.

The investment comes as South Korean memory chip exports are in a downward cycle, prompting South Korean President Moon Jae-in to call for government measures to boost the country’s competitiveness in non-memory chips, The Korea Herald reported.

In early April, Samsung started mass production of 5G chips, which power the smartphone giant’s first compatible handset, the Galaxy S10 5G.