SAMSUNG LAUNCHES A 175 BILLION EUROS INVESTMENT PLAN OVER THREE YEARS
by Heekyong Yang
SEOUL (Reuters) – Samsung Electronics on Tuesday announced plans to invest 240 trillion won (€ 175 billion) over the next three years to expand its presence in biopharmaceuticals, artificial intelligence, semi -conductors and robotics.
The subsidiary of the South Korean conglomerate believes that this investment, scheduled until 2023, will allow it to strengthen in strategic sectors such as chip manufacturing, while offering new growth opportunities in new areas such as robotics and new generation telecommunications.
The world’s leading manufacturer of memory chips also plans to consolidate its positions in the technology sector through mergers and acquisitions. The group did not provide any figures concerning the breakdown of the amount of its investments.
Samsung also did not say whether the planned 240 trillion won investment included the previously announced $ 17 billion plan for a new US chip outsourcing factory.
Samsung’s new investment plan is 30% higher than the group’s previous three-year plan launched in 2018.
“The chip sector is the backbone of the Korean economy (…) Our aggressive investment is a survival strategy because once our competitiveness is lost, it is almost impossible to regain it,” said the group in a communicated.
Samsung’s rivals Taiwan Semiconductor Manufacturing and Intel have also launched major investment plans amid a global chip shortage and intensifying competition.
(Report Heekyong Yang; French version Claude Chendjou, edited by Blandine Hénault)