Samsung agrees to 356 billion USD investment plan

Kim Hong-Ji (File Photo/Reuters) nuotr.

South Korea’s technology giant Samsung unveiled $ 356 billion on Tuesday. An investment plan worth USD is planned for the next five years to ensure the manufacturer’s leadership in various sectors from the semiconductor to the biotechnology sector.

Planned investments will account for more than a third of the funds earmarked for this purpose in the last five years.

Samsung is South Korea’s largest conglomerate with a combined turnover of one-fifth of the country’s gross domestic product (GDP).

The group’s division, Samsung Electronics, is the world’s largest manufacturer of mobile phones.

The investment plan will bring long-term strategic business growth and help strengthen the global industrially important technology ecosystem, Samsung said in a statement.

By 2026, 80,000 will be created. new jobs in key companies, including semiconductors and biopharmaceuticals in the fields of coating and manufacturing.

The group also expected the investment to accelerate the production of state-of-the-art technology based on 3-nanometer processes, further reducing the size of semiconductors and increasing computing power.

Together with the divisions Samsung Biologics and Samsung Bioepis Group will increase investment in biopharmaceutical technology.

The new plan calls for an increase in investment of 36% compared to total investment over the last five years.

I 450 trln. von, which Samsung plans to release over the next five years, 360 billion. von will be invested in Piet Korea.

Meanwhile, Joe Biden will visit Samsung Electronics’ large semiconductor plant in Pyongyang on Friday during his first visit to Asia as president of the United States, highlighting South Korea’s role in ensuring the global chip supply chain.

South Korea and the United States need to work together to make their supply chains resilient, reliable and secure, Biden said, calling the country’s semiconductors a miracle of innovation that is vital to the global economy.

Samsung has about 20,000 companies in the U.S., and a new semiconductor plant is currently under construction in Texas, scheduled to open in 2024.

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