Samsung Electronics said on the 24th that it will invest 450 trillion won in future growth areas such as semiconductors, biology, and IT in the next five years, creating more than 80,000. employment position.
The amount of spending increased by more than 30 percent from the previous five-year period, when the company spent 330 trillion won, Samsung said, adding that this will boost the company’s business. long-term growth.
The 450 trillion won will be used for capital expenditures and research spending, of which 360 trillion won will be invested in South Korea, Samsung said, noting that countries around the world are recognizing the strategic importance of the semiconductor and biopharmaceutical industries. In the current environment, it is important to keep supply chains in these industries in South Korea, Samsung said, adding that it will also create 80,000 new jobs within five years.
Samsung’s latest spending plan is an updated version of a plan the company announced last year, in which it said it would spend 240 trillion won on strategic sectors over three years. Annual spending and job creation have increased compared to the previous plan.
Samsung said last year that it planned to spend $17 billion to build a new chip factory in Tyler, Texas. When detailing its new five-year spending plan, Samsung also said that in terms of semiconductors, it will continue to invest in memory chips and strengthen research on new materials and chip architectures. Investments will also focus on logic chips, such as application processors and image sensors. The company will continue to work on new chips that combine memory and processing functions on a single chip.
On the foundry side, or contract chip production, the company said it plans to mass-produce chips based on the 3nm node ahead of schedule. Stressing the importance of the industry, the company said that if Samsung’s foundry business develops to become the world’s No. 1, the economic impact on South Korea would be similar to adding a conglomerate larger than Samsung Electronics at present.
In the biopharmaceutical space, its contract manufacturing subsidiaries Samsung Biologics and Samsung Biopharmaceuticals will continue to spend money to expand their production capacity and biosimilar portfolio. Other strategic sectors included in Samsung’s spending plan include 5G and 6G, and artificial intelligence.