Samsung announced its plan to invest about KRW 240 trillion (205 billion US dollars) in a number of sectors within the company, including semiconductors, telecommunications, and biopharmaceuticals over the next three years.
Through this investment, the Korean company aims to strengthen its global position as one of the pioneers in these sectors, and increase its presence in new sectors around the world such as robotics and the next generation of communication technologies.
The investments will be managed by Samsung Electronics and Samsung Biologics, both of which are affiliated with the parent company. They will also undertake a number of acquisitions and mergers during the coming period to achieve the desired goal of investment and reach the top of these sectors in the global market.
The company will invest 180 trillion South Korean won (US$154.3 billion) in South Korea, with the remaining value distributed to the countries in which the company operates abroad. These investments will contribute to creating 40,000 new jobs until the plan expires in 2023.
The investment is expected to help Samsung Electronics develop new artificial intelligence technologies and focus more on developing semiconductors with technologies such as DRAM technology for RAM chips or V-NAND memory cards that it is pioneering in its development for global companies. It is also expected that the investments will support the development of OLED screens with its new technologies, robots, and other products.
The investments will help biotech company Samsung Biologics and its sister company Samsung Bioepis build two new plants and contribute to the completion of another one under construction.