Samsung to Make investments KRW 240 Trillion Over Subsequent Three Years


Samsung Group will make investments KRW 240 trillion (roughly Rs. 15,26,645 crores) within the subsequent three years to increase footprint in biopharmaceutical, synthetic intelligence, semiconductor, and robotics industries within the post-pandemic period, Samsung Electronics mentioned.

South Korea’s prime conglomerate mentioned on Tuesday the investments via 2023 are anticipated to assist Samsung strengthen its world standing in key industries such because the chip sector, whereas looking for extra development alternatives in new fields equivalent to next-generation telecommunications and robotics.

Samsung, the world’s largest reminiscence chip maker, didn’t present a breakdown of the figures, although it added that the group plans to solidify expertise and market management via mergers and acquisitions.

Samsung additionally didn’t present any particulars on its reported funding of $17 billion (roughly Rs. 1,26,050 crores) for a chip manufacturing facility in the USA. Based on a doc filed with Texas state officers, the corporate is contemplating a location in Williamson County for the chip contract manufacturing facility that will end in 1,800 new jobs.

The funding plan comes greater than every week after its chief Jay Y. Lee was launched from jail on parole following convictions of bribery and embezzlement.

© Thomson Reuters 2021

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