Jakarta (ANTARA) – The Samsung Group will invest 240 trillion won (206 billion US dollars) in the next three years to expand its footprint in biopharmaceuticals, artificial intelligence, semiconductors and robotics in the post-pandemic era, Samsung Electronics Co Ltd said.
The South Korean giant said Tuesday that investments through 2023 will help strengthen the group’s global position in key industries such as chipmaking, while seeking growth opportunities in new areas such as next-generation robotics and telecommunications.
Samsung Electronics, the world’s largest maker of memory chips, said the group plans to strengthen its technology and market leadership through mergers and acquisitions.
The plan is 30 percent larger than Samsung’s previous three-year strategy unveiled in 2018. The group decided to increase investment to maintain its technology leadership, especially during “emergencies” at home and abroad.
“The chip industry is the safety plate of the Korean economy… Our aggressive investment is a survival strategy in the sense that once we lose competitiveness, it is almost impossible to return,” Samsung Electronics said in a statement.
Chip competitors including Taiwan Semiconductor Manufacturing Co Ltd and Intel Corp are making large investments amid a global chip shortage and intensifying competition in the advanced chip segment.
The Samsung Group has 59 affiliates with total assets of 457 trillion won, according to South Korea’s Fair Trade Commission.
The investment plan comes more than a week since Samsung Group leader Jay Y. Lee was released from prison on parole following convictions for bribery and embezzlement.
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Reporter: Fathur Rochman
Editor: Alviansyah Pasaribu
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