(MENAFN- Trend News Agency)
Samsung Group will invest 450 trillion won ($356 billion) in the
next five years to accelerate growth in semiconductors,
biopharmaceutical and other next-generation technologies, Samsung
Electronics said, Trend reports with reference to Reuters .
South Korea's top conglomerate said on Tuesday the investments
through 2026 are expected to help Samsung drive long-term growth in
strategic areas such as the chip sector, while pledging aggressive
investments in the biopharmaceutical sector to make it as
successful as its chip business.
Samsung Electronics, the world's largest memory chip maker, did
not provide a breakdown of the figures, though it added that 80% of
investments will be made in South Korea and that Tuesday's
announcement includes a 240 trillion won investment pledge made in
Samsung did not include electric vehicle batteries as a future
growth engine in the announcement.
Samsung SDI, the group's battery unit, and Stellantis, the
parent company of Chrysler, are scheduled to announce their new
battery plant in the U.S. state of Indiana on Tuesday.
Securing domestic chip and bio supply chains will have strategic
significance and be important for South Korea's economic security,
Samsung said in the announcement.
The 450 trillion won investments, expected to create 1.07
million jobs, are over 30% greater than the 330 trillion won
Samsung invested in the five years to 2021.
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