Samsung to push $356 billion into semiconductors and biopharmaceuticals

Samsung Group plans to invest 450 trillion won ($356 billion) in the next five years to accelerate growth in semiconductors, biopharmaceutical and other next-generation technologies.

The South Korean conglomerate said that the investments are expected to help Samsung drive long-term growth in strategic areas such as the chip sector.

Samsung also pledged aggressive investments in the biopharmaceutical sector to make it as successful as its chip business.

Samsung Electronics added that 80% of investments will be made in South Korea and that the announcement includes a 240 trillion won investment pledge made in August 2021.

The 450 trillion won investments are expected to create 1.07 million jobs.

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