US leader Joe Biden visits Samsung Electronics company durin...| MENAFN.COM

Saturday, 02 July 2022 05:29 GMT

US leader Joe Biden visits Samsung Electronics company during his trip


(MENAFN) On Tuesday, South Korean company Samsung Group stated that it would finance 450 trillion won (USD360 billion) through the next 5 years to concentrate on new future companies such as semiconductors and biopharmaceuticals.

The firm targets to expand its existence in the chip business and raise its effectiveness in the period of post-coronavirus.

Some 360 trillion won (USD280 billion) or 80 percent of the investment are going to be spent in South Korea for talent recruitment and R&D.

On Friday, US Leader Joe Biden took a trip to Samsung Electronics chip plant in Pyeongtaek -- some 43 miles south of the capital Seoul – throughout his three-day trip to the nation, stating that Washington is going to finish reliance on those "who do not share our values."

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