Many people associate Samsung primarily with smartphones and TVs, but the company is looking to other areas of its business for long-term growth potential. In the five years to 2026, it will plow 450 trillion won ($356 billion) into strategic areas, with a focus on things like semiconductors, biotechnology and artificial intelligence.
This is Samsung’s largest investment commitment to date and is up from a pledge of 240 trillion won in August last year. This figure is 30 percent more than the 330 trillion won the company has invested in itself in the past five years.
The Samsung Electronics division will use the funding to strengthen the chip design and manufacturing process, according to The Korea Herald. The company is preparing to start making 3nm chips to keep pace with TMSC. It is also working on advanced chips for supercomputers, robots and AI purposes, and plans to focus on developing 6G technology.
Samsung expects to create 1 million jobs in the coming years. It plans to employ 80,000 people by 2026 and create hundreds of thousands of new positions with its suppliers. About 80 percent of the announced investment will go to the company’s home country, South Korea.
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