South Korean conglomerate Samsung Group unveiled a massive 450 trillion won investment blueprint for the next five years aimed at making it a frontrunner in a wide range of sectors from semiconductors to biologics.
The investment plan would bring long-term growth in strategic businesses and help strengthen the global industrial ecosystem of crucial technology. It will also invest heavily in biopharmaceuticals with its affiliates Samsung Biologics and Samsung Bioepis.
The new figure is an increase of more than a third over its investments spent over the past five years. The new plan represents a 36 percent increase in investment over its total investments over the past five years.
The investment would bring forward the mass production of chips based on the 3-nanometer process, the latest technology to further shrink the size of semiconductors and boost computing power.
The 80,000 new jobs would be created primarily in core businesses including semiconductors and biopharmaceuticals through 2026. Of the 450 trillion won Samsung plans to spend over the next five years, it will commit 360 trillion won to South Korea.
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