The Samsung Group has announced that it will invest 450 trillion won (about $ 360 billion) by 2026 to strengthen its chip and pharmaceutical business. The group, which also owns Samsung Electronics and Samsung Biologics, has promised to create 80,000 jobs by 2026, mainly in the chip and bio-pharmaceutical industry (in the pharmaceutical field). In the statement, the group noted that 80% of the investment will be in Korea (about 360 trillion won), and the rest overseas. Samsung is building a $ 17 billion chip plant in Texas.
According to the group, the investments are expected to help the company drive long-term growth in strategic areas such as the chip industry, while committing to aggressive investments in the biopharmaceutical sector to make it as successful as its chip business.
Samsung is paying special attention to Samsung Electronics, which has a market capitalization of about $ 353 billion. The division, which spans the fields of technology, health and finance, picks achievements such as the world’s largest manufacturer of smartphones, monitors, memory chips and more.
The group has committed to several investment plans in the past: last year, it revealed it would invest $ 151 billion by 2030 to explore and delve deeper into advanced chip production. Alongside this, Samsung has pledged more than 510 trillion won in investment in semiconductor research and production by 2030, as part of a national plan by the former president of Korea.
In addition, as part of South Korea’s new president’s growth plan, Ion Suk-Yaul, groups such as Samsung and Hyundai will shoulder some of the responsibility for driving the country’s slump – tackling issues such as inflation and supply chain disruptions. He believes conglomerates should be a key pillar in his economic growth plans.