Samsung announces $205b investment plan

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Samsung Group unveiled a $205 billion investment blueprint on Tuesday aimed at making the company a leader in a range of technologies from semicon-ductors to robotics and creating 40,000 new jobs.

The tech giant is South Korea’s largest conglomer-ate and its overall turnover is equivalent to a fifth of the national gross domestic product. Samsung Elec-tronics, its flagship subsidiary, is the world’s biggest smartphone maker.

The plan will “help Samsung strengthen its global standing in key industries while spearheading inno-vation in new fields”, the company said in a state-ment.—AFP

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