Samsung Electronics to invest 180 tln won over next 3 years

Ceria Alfonso
Agosto 10, 2018

He has since been released after some of his convictions were quashed on appeal, and is now awaiting a Supreme Court decision.

According to figures from IHS Markit, Samsung's shipments fell 10.8 per cent to 70.8 million during the most recent quarter as the Samsung Galaxy S9 failed to fend off competition from the likes of Huawei.

With his case to be reviewed by the Supreme Court, coupled with incumbent President Moon Jae-in's drive to impose tougher restrictions on family-controlled conglomerates, industry watchers said Lee sought to recover the group's public reputation and build a better relationship with the government through the investment.

AI is set for a particularly high investment, with Samsung set to expand the number of researchers in its various research centres across the world to over 1,000.

"Samsung aims to lead efforts to foster a vibrant ecosystem for innovations and growth, leveraging its technology and decades of experiences in creating successful businesses", the company said in a statement Wednesday.

The announcement sent shares in contract drugmaker Samsung BioLogics up more than 5 percent. Shares in the group's information technology services affiliate Samsung SDS (018260.KS) rose almost 6 percent.

More news: ¿Cómo ver en México la lluvia de estrellas de las Perseidas 2018?

Samsung Electronics stocks traded flat.

The injection of money will be made over the coming three years and will be part of an overall $161 billion investment plan.

Of the total, KRW 130 trillion (around Rs. 7.97 lakh crores) will be spent in South Korea, and is expected to create 40,000 jobs, or 20,000 more than its previous hiring plans, Samsung said.

The €19.25 billion investment is part of a wider KRW180 trillion (€138.64 billion) spend to support capex and research and development.

Samsung, which earlier acquired US automotive electronics firm Harman International Industries Inc., has been making various progress in this field.

Otros informes por

Discuta este artículo

SIGUE NUESTRO PERIÓDICO