Samsung Looks To Invest $356B Over Five Years in Next-Gen Technologies - Here's Why

Author: Anusuya Lahiri | May 24, 2022 07:32am

• Samsung Electronics Co, Ltd (OTC:SSNLF) looks to invest 450 trillion won ($356 billion) in the next five years to accelerate growth in semiconductors, biopharmaceuticals, and other next-generation technologies, Reuters reports.
• The investments through 2026 will likely help Samsung drive long-term growth in strategic areas like the chip sector while pledging aggressive investments in the biopharmaceutical sector.
• Samsung clarified that 80% of investments catered to South Korea, and the investment includes a 240 trillion won investment pledge made in August 2021.
• The investments will likely create 1.07 million jobs and be necessary for South Korea's economic security.
• Samsung SDI Co Ltd (OTC:SSDIY), the group's battery unit, and Stellantis N.V. (NYSE:STLA), the parent company of Chrysler, will likely announce their new battery plant in the U.S. state of Indiana.
• Price Action: SSNLF shares closed at $53.99 on Monday.
• Photo via Wikimedia Commons

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