Samsung To Spend $22 Billion In AI And 5G Technology

Samsung Group announced on Wednesday that it will invest 25 trillion won ($ 22 billion, about 1.47 Lark crawlers) in three years in the field of artificial intelligence, 5 g mobile technology, automotive and biopharmaceutical electronic components.

This investment is included in a large set of 180 billion won (about 11 million rupees). Korea's largest business group plans to create jobs and secure new growth areas.

Samsung Electronics is the world's largest manufacturer of memory chips and smart phones and is also the company's flagship company, said that although it does not show breakdown of this figure, it will provide most of the investment.

The group is planning to drastically expand the research capacity of artificial intelligence (AI), increase the number of advanced AI researchers at the global AI center to 1,000 people, and invest heavily in biopharmaceutical products.

"Samsung has achieved robust growth in both contract manufacturing and biosimilar businesses and will continue to invest heavily in businesses involving the development and manufacture of biosimilars," the company said in a statement.

With this announcement, the share of Samsung BioLogics Pharmaceutical subcontractors has increased by more than 5%. Samsung SDS, a group of IT service subsidiaries, increased its shares by 5%.

Samsung Electronics shares were traded.

A three-year investment plan of $ 180 trillion, including capital investment and chip and screen research and development, is 6% above the spending over the past three years.

Among them, 130 billion won (about 797 million rupees) was spent in Korea, the number of employees increased by 20 thousand, according to Mr. Samsung,

The investment plan will be held after Korea's Finance Minister meets Samsung's heir Jay Y. Lee on Monday and calls for help in creating jobs.

Lee is released from prison of 2021 one year after detention of corruption and hopes to increase investment among investors to create employment.

According to the Fair Trade Commission, the Samsung Group has 62 affiliates with total assets of 399 trillion won (approximately A $ 24.5).

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