Samsung To Spend $22 Billion On AI, Auto Tech, 5G 08/08/2018
11 August, 2018, 21:29 | Author: Arnold Gilbert
Samsung Group, South Korea's biggest family-controlled conglomerate, said Wednesday that it will invest 180 trillion won (about 160 billion USA dollars) and hire 40,000 more employees for the next three years.
Samsung Electronics said it will invest aggressively in the fifth-generation network technology, which is anticipated to contribute to the growth of self-driving cars, Internet of Things solutions and robotics.
It is noted that these attachments are part of the three-year investment plan with a total volume of 180 trillion won, aimed at creating new jobs and providing new sources of growth.
This includes a 25 trillion won ($22bn) spending spree for its Samsung Electronics arm, the best-known of all its divisions, and the brains behind its smartphone and semiconductor businesses. AI seems to be the main concern.
As for the bio business, Samsung claimed that it wishes to foster the segment to become another major pillar of its portfolio like semiconductors. Consumption has slowed, unemployment is rising and investment has cooled since he came to power a year ago. "It will continue to invest heavily in the businesses, including developing and manufacturing biosimilars", it said in a statement. The platform will benefit 500 projects - 300 external candidates and 200 inside the company - in the next five years to encourage innovations and entrepreneurship.
The €19.25 billion investment is part of a wider KRW180 trillion (€138.64 billion) spend to support capex and research and development.
Samsung added that 4 trillion won will be spent on seeking shared growth with subcontractors.
Samsung said it already helped 1,086 companies adopt smart factory solutions from 2015 through 2017, with the beneficiaries observing an average 5.5 percent increase in their sales.
Lee was freed after almost a year in jail.
Samsung projects that the investment will lead to the creation of 40,000 jobs over the three years.
KEITH: At the time campaign professionals from both sides of the aisle said , no, they would not have taken that meeting. Thus, the purported disconnect between President Trump's tweets and statements by others on his team does not exist.
President Donald Trump says the United States has chose to increase tariff rates on Turkish steel and aluminum . He added that the country will continue to enjoy good economic relations with several major nations.
He now serves as president, overseeing global operations, corporate strategy, public policy and government affairs. In 2014 activist investor Nelson Peltz pushed for Pepsi to spin off its snack business as a separate company.
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