Samsung Electronics to Invest 180 Tln Won and Hire 40,000 over Next 3 Years

Write : 2018-08-08 15:00:30 Update : 2018-08-08 16:42:40

Samsung Electronics to Invest 180 Tln Won and Hire 40,000 over Next 3 Years

Samsung Electronics plans to invest a total of 180 trillion won both at home and abroad as well as hire 40-thousand more employees over the next three years. 

The electronics giant revealed such plans on Wednesday as part of measures to revitalize the economy and create jobs. 

The firm will inject 130 trillion won in its domestic operations, particularly in its key production bases in a bid to be prepared for a surge in demand for artificial intelligence(AI) and fifth generation(5G) network services. It will invest roughly 25 trillion won into projects related to AI, 5G and biotechnology to raise its competitiveness in the Fourth Industrial Revolution.

Through such investments, Samsung plans to foster AI, 5G, biotechnology and electronic components as key future growth engines.

The 130 trillion won investment in the nation is expected to have an effect of creating 700-thousand jobs.

[Photo : YONHAP News]

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