Samsung Group, South Korea's tech giant, announced Tuesday that it will invest $205 Billion (240 Trillion Won) in its semiconductor, biopharmaceuticals, and telecommunications units in the next three-years to increase its global presence and take a lead in new industries like next-generation telecommunications and robotics.
Samsung affiliates, including Samsung Electronics (Samsung Biologics) and Samsung Electronics (Samsung Electronics), will lead the investment. It also revealed a plan for mergers and acquisitions to strengthen its technology and market leadership.
Samsung plans to create 40,000 jobs through this investment, which will see it set aside $154.3 billion (180 Trillion won) for its home ground.
This announcement comes just days after Jay Y. Lee, Samsung Electronics vice-chairman, was released on parole on August 13, right before South Korea's Liberation Day. According to local media reports, people believed that Samsung would be freed from prison and be able move forward with major investments.
According to the company's statement, Samsung's latest investment will be used to fund semiconductors, biopharmaceuticals, and next-generation telco unit investments.
Samsung Electronics will develop advanced process technology, expand its business with AI (artificial intelligence) and data centres for its system semiconductors. It will also focus on the most up-to-date technology like EUV-based sub14 nanometer DRAM and more than 200-layer VNAND products for memory. Samsung announced that it will invest $151 million in its logic chip-and-foundry sector to become the world's top logic chip manufacturer by 2030.
The statement stated that Samsung Biologics will establish two new plants and Samsung Bioepis will construct a fourth plant to expand the contract development manufacturing organization (CDMO).
South Korea's largest conglomerate will also support ongoing R&D in emerging technologies and areas such as AI, robotics, and the next generation OLED and quantum-dot displays.