Samsung announced on July 20 that the company will invest a total of 5.4 trillion Won (US$4.3 billion; US$1 = 1245.1 Won) into an eco-friendly project, called PlanetFirst, over the upcoming five years, with an aim to become the largest environmental -friendly chipmakers by 2013, the JoongAng Ilbo reported on July 21. Of the total investment, the company plans to spend around 60% or 3.1 trillion Won (US$2.5 billion) on the development of green products, while the remaining 40% will be allocated for the development of energy-saving technologies in a bid to reduce greenhouse gas emissions from factories and products by 50% and by 84%, respectively, during the next five years. Additionally, Samsung stated that the PlanetFirst project will cover its global operations, supply chain, and complete lifecycle of products, Reuters reported on July 20.