Samsung commits $356b in investments with 80,000 new jobs

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Samsung Group on Tuesday unveiled a massive $356 billion investment blueprint for the next five years aimed at making it a frontrunner in a wide range of sectors from semiconductors to biologics.

The new figure is an increase of more than a third over its investments spent over the past five years. The tech giant is South Korea’s largest conglomerate and its overall turnover is equivalent to a fifth of the national gross domestic product. Samsung Electronics, its flagship subsidiary, is the world’s biggest smartphone maker. The investment plan would bring “long-term growth in strategic businesses and help strengthen the global industrial ecosystem of crucial technology”, Samsung said in a statement.—AFP

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