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Samsung sets three-year plan to invest $206bn

Samsung sets three-year plan to invest $206bn

Mubasher: Samsung has set a three-year plan to invest 240 trillion won ($206 billion) in biopharmaceuticals, artificial intelligence (AI), semiconductors, and robotics in the post-pandemic period, Reuters reported.

Through the investment, the South Korean group seeks to foster its position in industries such as chip-making and explore growth opportunities in fields such as robotics and next-generation telecommunications in the next three years.

Samsung Electronics referred that the group targets mergers and acquisitions to strengthen its technology and market leadership.

The group has set this plan, which is 30% larger than Samsung's previous three-year strategy in 2018, to maintain its technological position, namely amid emergencies.

Samsung says that the chip industry is the safety plate of the Korean economy, viewing the aggressive investment as a survival strategy to avoid losing competitiveness once and for all.