Samsung to invest $22 bn in new technology areas

Remigio Civitarese
Agosto 10, 2018

The plan, for instance, will boost Samsung's global roster of advanced AI researchers to 1,000. The company's move came as the sector calls for top-notch chip and display technologies, in which Samsung enjoys an edge over rivals.

Samsung, South Korea's biggest conglomerate, plans to invest 180-trillion won ($161bn) to ramp up its ability to produce memory chips and other products vital to future growth, lending its support to President Moon Jae-in's efforts to shore up a slowing economy.

It forms part of a broader strategy under which the Samsung group will invest KRW180 trillion ($160.7 billion) in total over the next three years in capital expenditure and research and development.

The total planned investment of 6% exceeds the volume of investments in the last three years.

"Samsung expects innovations powered by AI technology will drive the industry's transformation, while the next-generation 5G telecommunications technology will create new opportunities in autonomous driving, the Internet of Things (IoT) and robotics", the company said in a statement.

Samsung's second quarter profit dipped slightly to 11.04 trillion won, down from 11.05 trillion won a year earlier.

"The latest investment reflects the company's belief that it may fall behind the competition if it takes its current position as a global leader for granted and is lax is making investments now", an official from Samsung said.

Samsung Electronics said the announcement followed "many months of deliberations and review" by the group.

On the education front, the company is setting up a number of software education centers in South Korea, offering training and "employment consulting" to about 10,000 students and job candidates.

The company said the program will be provided in around five cities throughout the country, starting with a thousand students in the first year.

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