South Korea's defense and petrochemical conglomerate Hanwha Group has announced it will invest 22 trillion won over the next five years and create 35-thousand jobs over the period.

Under the company's largest investment plan since its foundation, the firm will invest four-point-four trillion won a year over the next five years, up 37 percent from the average amount invested over the past three years.

Hanwha said that around four trillion won will be invested in beefing up the competitiveness of its aviation parts and defense segments.

The firm will spend another five trillion won on its petrochemical business, along with four trillion won each on the resort and shopping mall sectors.

Hanwha said it will also make major investments in the solar energy and finance segments.

The group, which previously hired three thousand to four thousand workers annually, said it has employed six thousand people since 2016 following the development of its solar business. Hanwha said the number will increase to seven thousand over the next five years.