SEOUL, Aug 24 (Reuters) - Samsung Group will invest 240
trillion won ($206 billion) in the next three years to expand
its footprint in biopharmaceuticals, artificial intelligence,
semiconductors and robotics in the post-pandemic era, Samsung
Electronics Co Ltd said.
The jewel of South Korea's biggest conglomerate on Tuesday
said the investment through 2023 will help strengthen the
group's global standing in key industries such as chip-making,
while allowing it to seek growth opportunities in new areas such
as robotics and next-generation telecommunications.
Samsung Electronics, the world's largest memory chip maker,
said the group plans to solidify technology and market
leadership through mergers and acquisitions. It did not provide
a breakdown of the investment figures.
The firm did not say whether the latest investment figure
includes the $17 billion it was reportedly spending on a new
U.S. chip contract chip factory.
The plan is 30% larger than Samsung's previous three-year
strategy floated in 2018. The group decided to increase
investment to retain technological leadership, especially during
"emergency situations" at home and abroad.
"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
Chip rivals including Taiwan Semiconductor Manufacturing Co
Ltd and Intel Corp are making large
investments amid a global chip shortage and intensifying
competition in the advanced chip segment.
Samsung Group has 59 affiliates with assets totalling 457
trillion won, according to South Korea's Fair Trade Commission.
The investment plan comes just over a week since Samsung
Group leader Jay Y. Lee was released from jail on parole
following convictions for bribery and embezzlement.
($1 = 1,167.0800 won)
(Reporting by Heekyong Yang, Editing by Sherry Jacob-Phillips
and Christopher Cushing)