Samsung Electronics prepares for large investments


May 24, Fineko/ In the next 5 years the largest South Korean corporation is going to invest 450 trillion wons ($356 bn) in the development of semiconductor, biopharmaceutical and other next-generation technologies.

ABC.AZ reports that Samsung Group intends to accelerate growth in the field of semiconductors, biopharmaceuticals, artificial intelligence and new generation technologies.

The investment will ensure company's long-term growth in strategic areas such as the chip industry.

"The security of local supply chains of chips and biotechnologies is of strategic importance and important for the economic security of South Korea. Therefore, the presence of a bio-supply chain and semiconductors is of strategic importance," Samsung said in a statement.

Samsung Electronics will invest 80% of its investments in South Korea.