Samsung Group will invest 450 trillion won ($ 356 billion) over the next five years to accelerate growth in semiconductor, biopharmaceutical and other next-generation technologies, Samsung Electronics Says
South Korea’s top agency said Tuesday that the 2026 investment is expected to help Samsung drive long-term growth in strategic areas such as the chip sector, which has promised aggressive investment in the biopharmaceutical sector to make it as successful as its chip business.
Samsung Electronics, the world’s largest memory chip maker, did not provide a breakdown of the figures, although it added that 80% of the investment would be made in South Korea, and Tuesday’s announcement included an investment pledge of 240 trillion won made in August 2021.
Samsung’s announcement did not include electric car batteries as the engine of future growth.
Samsung SDI, the group’s battery unit, and Stellantis, Chrysler’s parent company, are set to announce their new battery plant in the US state of Indiana on Tuesday.
Samsung said in a statement that securing domestic chips and bio-supply chains would be of strategic importance and important for South Korea’s economic security.
450 trillion won investment, expected to create 1.07 million jobs, 30% more than the 330 trillion won that Samsung has invested in the five years from 2021.