Samsung plans on investing KRW 240 trillion to expand into AI, Robotics, and more

Samsung is planning to give more focus to its chip sector

Samsung plans on investing KRW 240trillion to expand into AI, Robotics, and more

Samsung Electronics has announced that in order to expand their services in the biopharmaceutical, artificial intelligence, semiconductor, and robotics industries in the post-pandemic era, the group will invest an amount of KRW 240trillion in the coming three years. 

The group said that the investments will make its position in the global market stronger, especially in some key industries, like the chip sector. It is also entering into new areas such as next-generation telecommunications and robotics. Samsung is currently the world’s largest memory chip maker. The company has not provided details on how this investment will be allotted to different industries. It has given out plans that the company is looking for mergers and acquisitions intending to expand its technology and also gaining the top spot in the market. 

Samsung had reportedly invested $17billion for a chip factory in the US. But a confirmation regarding it hasn’t been provided. The company has filed a document with Texas state officials in which it is stated that it is looking at a place in Williamson County for the factory. The factory is expected to provide 1,800 new jobs.