Samsung will invest KRW 240 trillion over next three years; Expand on AI, Robotics, More Industries

The Samsung Group will invest KRW 240 trillion (about INR 15,26,645 crores) over the next three years to expand its footprint in the biopharmaceutical, artificial intelligence, semiconductor and robotics industries in the post-pandemic era, Samsung Electronics said.

South Korea’s biggest conglomerate said on Tuesday that investments through 2023 should help Samsung strengthen its global position in key sectors such as the chip sector, while looking for more growth opportunities in new fields such as telecommunications. next generation and robotics.

Samsung, the world’s largest maker of memory chips, did not release the numbers, though it added that the group plans to solidify the technology and market leadership through mergers and acquisitions.

Samsung also did not provide details on its investment of $17 billion (about INR 1.26.050 million) for a chip factory in the United States. According to a document filed with Texas state officials, the company is considering a location in Williamson County for the chip contract manufacturing facility that would result in 1,800 new jobs.

The investment plan comes more than a week after its leader Jay Y. Lee was released from prison on parole following convictions for bribery and embezzlement.

© Thomson Reuters 2021

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