Samsung to spend 240 trillion won in next 3 years for chips and other strategic businesses

Samsung said on Tuesday that it will spend 240 trillion won in the next three years in strategic businesses, which includes computing chips, biopharmaceuticals and next-generation telecommunications.

The move will create 40,000 new jobs and 180 trillion won out of the total sum will be spent in South Korea, Samsung said.

The South Korean tech giant said it was aiming to secure leaderships in these industries, create jobs and opportunities for future generations as well as create an ecosystem around these industries.

Samsung will prepare for the great changes expected after the COVID-19 pandemic with the increased spending plan, the company added.

In computing chips, known as semiconductors, the company will develop advanced processes early to strengthen its global leadership, Samsung said.

For DRAMs, it will focus on those made with 14nm process or under, while it will develop NAND flashes with over 200 layers.

The company will execute its spending plan for logic chips announced earlier __ it plans to spend 171 trillion won by 2030 in related businesses __ than previously planned, Samsung said.

It will also foster its contract manufacturing business for biopharmaceuticals to foster it into its “second semiconductor” business, it said.

In next-generation telecommunications, it will move beyond 5G and prepare to secure leadership in 6G, Samsung added.

It will also strengthen new business areas such as AI and robotics.

The spending plan, besides creating 40,000 direct jobs, will also help induce 560,000 new jobs in related industries, Samsung claimed.

It will also expand its software school for children and foster more in-house and outer startups, Samsung said.

The company will also spend 350 billion won out of the total in researches related to basic sciences and core technologies.