Under the “Samsung’s future for dynamic innovation growth” strategy, the South Korean group intends to devote the bulk of the investment to ramp up its system memory and foundry capacity, with plans to bring forward the mass production of chips based on the 3-nanometer technology
Samsung Group has committed an investment of KRW450 trillion ($356bn) over the next five years in semiconductors, biopharmaceutical, and next-generation technologies.
The South Korean conglomerate said that the investments through 2026 will help it steer long-term growth in key areas like the chip sector. The latest investment strategy has been dubbed “Samsung’s future for dynamic innovation growth”.
The group also wants to aggressively invest in the biopharmaceutical area to make it as successful as its semiconductor business.
Samsung Electronics, the group’s flagship subsidiary, did not give a breakdown of the investment figures. However, it said that 80% of the investments will be made in its home country towards facility and research and development (R&D).
The investment will enable the group to create 80,000 jobs in South Korea itself.
The latest announcement from the Korean group includes the KRW240 trillion ($206bn) investment commitment it made last August.
Electric vehicle batteries were not mentioned by Samsung Electronics as a future growth engine in its latest announcement.
Samsung Electronics plans to devote the bulk of the investment to boost its system memory and foundry capacity. As part of this, the group will bring forward the mass production of semiconductors based on the 3-nanometer technology.
The group also expects to focus its investment in artificial intelligence (AI) and 6G over the next five years.
Last week, US President Joe Biden visited the Pyeongtaek campus of the group in South Korea. The President reminded that Samsung Electronics will invest $17bn to build a semiconductor plant in Taylor, Texas.