Samsung Electronics, the flagship subsidiary of the Samsung Group, is the world's biggest smartphone maker.
Samsung Group unveiled a $205 cardinal concern blueprint connected Tuesday aimed astatine making the institution a person successful a scope of technologies from semiconductors to robotics and creating 40,000 caller jobs.
The tech elephantine is South Korea's largest conglomerate and its wide turnover is equivalent to a 5th of the nationalist gross home product. Samsung Electronics, its flagship subsidiary, is the world's biggest smartphone maker.
The program volition "help Samsung fortify its planetary lasting successful cardinal industries portion spearheading innovation successful caller fields", the institution said successful a statement, adding that it volition besides prosecute firm acquisitions.
On the semiconductor front, the steadfast said it volition question to heighten cutting-edge technologies to conscionable "long-term request alternatively than short-term changes".
It is besides looking to grow its biopharmaceutical concern tally by Samsung Biologics and Samsung Bioepisit.
The conglomerate said it would physique 2 caller manufacturing plants connected apical of 3 presently successful cognition with a presumption to tapping into the manufacturing of vaccines.
Of the 240 trillion won ($205 billion) it plans to spend, it volition perpetrate 180 trillion won to South Korea.
The home concern is expected to make different 10,000 jobs connected apical of 30,000 already planned. It could besides induce arsenic galore arsenic 560,000 caller hirings successful related industries, it said.
The announcement comes conscionable days aft Lee Jae-yong, the de-facto person of the conglomerate, walked retired of situation connected parole aft completing lone astir fractional of his jailhouse term.
It was the latest lawsuit of the country's agelong contented of freeing business leaders connected economical grounds aft imprisonment for corruption oregon tax evasion.
Lee was serving a two-and-a-half twelvemonth situation condemnation for bribery, embezzlement and different offences successful transportation with a corruption ungraded that brought down erstwhile South Korean president Park Geun-hye.
But his parole is not the extremity of his ineligible travails: helium remains connected proceedings implicit alleged banal manipulation that efficaciously eased his way to instrumentality power of the household conglomerate.
© 2021 AFP
Citation: Samsung announces $205 cardinal concern program (2021, August 24) retrieved 24 August 2021 from https://techxplore.com/news/2021-08-samsung-billion-investment.html
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