Samsung plans to invest heavily in technology over the next five years. Focus areas are processors, biopharmaceuticals and other innovative technology.
Reuters reports that Samsung plans to invest a total of 450 trillion won (over €332 billion) in innovative technology over the next five years. The investments should help Samsung grow in the long term, particularly in the chip sector.
Samsung’s investments focus on its home country of South Korea. The plan is expected to create a total of 1.07 million jobs.
In addition to processors, Samsung wants to invest in biopharmaceuticals. The aim is to make the sector as successful for the company as chip production currently is.
Although Samsung develops battery technology for electric cars, this sector is excluded from the proposed investments. According to Reuters, this business unit will likely announce new investments itself.