Samsung Next withdraws from Israel as economy suffers from Gaza war
Samsung Next will shut down its operations in Israel and shift its activities abroad, as the Israeli economy suffers a downturn due to the ongoing war on Gaza.
The firm, which is the innovation branch of Korean company Samsung, announced to staff it was closing its operations in Tel Aviv, a regional tech hub.
An email to office employees said: "[T]his decision, although difficult, does not diminish the achievements we have accomplished together for almost a decade", including investing in 70 companies and Israeli startups, according to Israeli tech publication CTech.
