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Samsung to invest $206 billion over next three years

Credit: Nasdaq

Samsung said on Tuesday that the investments will help the company strengthen its worldwide position in important areas like the chip sector, while also finding new development prospects in new fields including next-generation telecoms and robotics.

In the post-pandemic age, Samsung Electronics stated it will invest 240 trillion won ($205.64 billion) over the next three years to extend its footprint in the biopharmaceutical, artificial intelligence, semiconductor, and robotics businesses.

Samsung said on Tuesday that the investments will help the company strengthen its worldwide position in important areas like the chip sector, while also finding new development prospects in new fields including next-generation telecoms and robotics.

Samsung Electronics, the world’s largest memory chip maker, did not disclose a breakdown of the data, but did say that through mergers and acquisitions, the company hopes to cement its technology and market leadership.

Samsung also declined to comment on its alleged $17 billion investment in a chip facility in the United States. According to a document submitted with Texas state officials, the corporation is considering locating a semiconductor contract manufacturing facility in Williamson County, which would create 1,800 new employment.

The investment proposal was announced more than a week after its CEO, Jay Y. Lee, was freed on parole following bribery and embezzlement charges.

“The chip industry is the safety plate of the Korean economy… Our aggressive investment is a survival strategy in a sense that once we lose our competitiveness, it is almost impossible to make a comeback,” Samsung Electronics said in a statement.

The company declined to comment on whether the latest investment number includes the $17 billion it is rumoured to be investing on a new chip contract chip facility in the United States. The plan is 30% bigger than Samsung’s previous three-year strategy, which was announced in 2018. To maintain technological superiority, the business opted to enhance investment, particularly amid “emergency situations” at home and abroad.

Chip rivals including Taiwan Semiconductor Manufacturing Co Ltd and Intel Corp are making substantial expenditures despite a global chip scarcity and rising competition in the advanced chip industry.

Samsung Group has 59 entities with assets of 457 trillion won, according to South Korea’s Fair Trade Commission.

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