Samsung Next, the innovative arm of the Korean giant company, Samsung, is closing down its Tel Aviv operations, one more solid mark of the emphatically declining trust in the Israeli economy.
In pulling out from Israel, Samsung Next, which had invested into nearly 70 Israeli new businesses to date, is the furthest down the line asset to strip from Israel's once flourishing hey tech sector, which represents more than 50% exports.
Many US and Israeli tech firms have previously left. In 2023, interest in Israeli tech firms plunged by 56% contrasted with 2022.
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