Samsung to invest $205B in semiconductor, biopharma and telco units by 2023, creating 40,000 jobs
Samsung Biologics and Samsung Bioepis prepares to develop additional two new plants, in addition to a 4th factory that is under building and construction, for expanding the contract advancement manufacturing company (CDMO) service, the statement said.
Samsung Electronics prepares to develop advanced procedure innovation and expand business with artificial intelligence (AI) and data centers for its system semiconductors while it will focus on up-to-date innovation such as EUV-based sub14-nanometer DRAM and over 200-layer V-NAND items for the memory business. Samsung had announced in May the business will invest $151 billion in its reasoning chip and foundry sector, to be the top logic chip maker, by 2030.
South Korea’s largest corporation also will support its ongoing R&D in brand-new technologies and emerging application in areas such as AI and robotics along with the next generation OLED, quantum-dot display and high-energy density batteries development.
With reserving $154.3 billion (180 trillion won) for house ground, Samsung anticipates to create 40,000 new jobs by 2023 through the investment.
Samsung Group, South Korea’s tech giant, announced on Tuesday that it will invest $205 billion (240 trillion won) in their semiconductor, biopharmaceuticals and telecommunications units over the next three years to improve its global existence and lead in brand-new industries such as next-generation telecommunication and robotics.
The financial investment will be led by Samsung affiliates including Samsung Electronics and Samsung Biologics. It likewise revealed mergers and acquisitions prepare to strengthen its innovation and market management.
This statement comes days after Samsung Electronics vice chairman Jay Y. Lee was released on parole on 13 August right before South Korea’s Liberation Day. Individuals speculated Samsung would be able to progress with significant financial investment once he was freed from prison, according to local media reports.
Samsung’s most current investment will be used for semiconductor, biopharmaceuticals and the next-generation telco units, according to the company’s declaration.
