Samsung Group, South Korea’s tech giant, announced on Tuesday that it will invest $205 billion (240 trillion won) in their semiconductor, biopharmaceuticals and telecommunications units over the next three years to enhance its global presence and lead in new industries such as next-generation telecommunication and robotics.
The investment will be led by Samsung affiliates including Samsung Electronics and Samsung Biologics. It also unveiled mergers and acquisitions plan to fortify its technology and market leadership.
With setting aside $154.3 billion (180 trillion won) for home ground, Samsung expects to create 40,000 new jobs by 2023 through the investment.
This announcement comes days after Samsung Electronics vice chairman Jay Y. Lee