Samsung plans to invest 356 billion USD, create 80,000 new jobs

Despite uncertain business conditions exacerbated by protracted supply chain problems and the war in Ukraine, the corporation Samsung of South Korea said it will invest 450 trillion won ($356 billion) by 2026, mainly in core business areas such as chip production and biomedical products. This represents a 30% increase in investment compared to what Samsung has invested in the previous five-year period.

Of which, 360 trillion won ($285 billion) will be invested in Korea. Samsung did not disclose where the rest of the investment would be allocated.

President Joe Biden and South Korean President Yoon Suk Yeol visit Samsung Electronics Pyeongtaek factory, May 20, 2022, in Pyeongtaek, South Korea. (Photo: AP)

Samsung Group is launching a recruitment drive that is expected to create 80,000 new jobs through 2026, “or approximately 16,000 positions annually,” Samsung said in a statement. Previously, the airline’s goal was to create 40,000 jobs between 2021 and 2023.

Most of the new jobs are expected to be created in South Korea. However, the tech giant also has research and development centers around the globe, including in the UK, US, Canada and the Philippines.

Samsung is best known for its manufacturing segment electronic device, especially smartphones and televisions. In recent years, the company has further focused on its role as a supplier Semiconductors as manufacturers around the world face shortages of this material. In particular, memory chips will continue to be the focus area that is planned to invest more, according to Samsung.

The Presidents of the United States and South Korea shake hands during their visit to Samsung Electronics Pyeongtaek factory. (Photo: AP)

In addition, the company plans to accelerate the development of 6G networks, the next generation of wireless telecommunications technology.

This news comes just days after US President Joe Biden visited Samsung’s semiconductor factory at the start of his Asia tour.

“A lot of the world’s future will be written here, in the Indo-Pacific, over the next few decades,” said President Biden while visiting Samsung’s factory in South Korea.

* Invite readers to watch programs broadcast by Vietnam Television on TV Online and VTVGo!