Samsung Announces $22 Billion Investment In Breakthrough 5G And AI Initiatives

Samsung to invest $22 billion into new growth areas like A.I. and 5G

As part of the investment, the South Korean.

Samsung Group on August 8 unveiled a whopping 180 trillion won (US$160 billion) investment plans, including 50 trillion won overseas, over the next three years in response to the government's growing calls for the nation's largest conglomerate to play a bigger role in economic recovery and job creation. As transfers the Internet edition of the Chronicle.info with reference to liga.net about it reports Reuters with a reference to the Samsung Electronics. Of the total, 130 trillion won ($116 billion) will be spent in Korea to create 40,000 jobs, twice as much as initially planned. The figure translates into around 43 trillion won annually, which is similar to Samsung's record high facility investment of 43.4 trillion won made a year ago. Samsung expected to create 40,000 new jobs over the next three years.

It will also develop a range of system-on-chips for autonomous driving based on its semiconductor, telecoms and display technologies products, as well as build new chipsets to support AI, 5G and data centres.

For biopharmaceuticals, Samsung has seen strong growth from both its contract manufacturing and biosimilar businesses. A new KRW110 billion ($98.2 million) fund, to be set up with the South Korea government, will provide funding for as many as 2,500 small and midsized enterprises for the next five years.

On the education front, the company is setting up a number of software education centers in South Korea, offering training and "employment consulting" to about 10,000 students and job candidates.

Everton complete signing of Yerry Mina from Barcelona
Bernard, also 25, has signed a four-year deal with the Merseyside club after his contract at Shakhtar ran out in June. The free signing of Brazilian midfielder Bernard was confirmed after a work permit was granted.

Tottenham first Premier League team to fail to make one summer signing
Pochettino says he is glad to keep his Spurs squad together amid speculation surrounding his stars. I am so proud of them because they were very focused on trying to arrive in a very good condition.

Gay men thanked Ben Stokes for protecting them, court hears
Stokes himself is accused of earlier mocking the gay men outside the club and flicking a cigarette butt at them. Nicholas Corsellis, prosecuting, told the jury: "Mr Cunningham observed Mr Stokes's behaviour towards them".

The announcement sent shares in contract drugmaker Samsung BioLogics (207940.KS) up 7 percent.

After being freed from prison early this year, the Samsung heir returned to the management but maintained a low profile mostly staying overseas for business meetings.

This still gives it a market share of 20.6 per cent, but even Samsung acknowledged in its results that sales of its newer devices hadn't been as good as excpected.

South Korean voters tired of scandals and critical of big businesses like Samsung elected President Moon to replace Park after she was ousted.

Related news:

Hot News

isis-killer-beheading-video-story-top Devin Nunes accidentally revealed his master plan to everyone
Aug 11, 2018 - 20:40
Nunes, quite candidly admits, "It's not a matter that any of us like Rosenstein... it's a matter of timing". Nunes concludes by saying Republicans need to keep their majority in Congress to protect the president.

isis-killer-beheading-video-story-top What you need to know about NASA's mission to touch the sun
Aug 11, 2018 - 20:38
Scorching, yes? But if all works as planned, the inside of the spacecraft should stay at just 85 degrees Fahrenheit. The heat shield is built to withstand radiation equivalent up to about 500 times the Sun's radiation here on Earth.

isis-killer-beheading-video-story-top Man suspected of starting Holy Fire makes bizarre court appearance
Aug 11, 2018 - 19:07
A Southern California wildfire that has been raging for several days south of Los Angeles is now 29 percent contained. Most are on the front lines, using chain saws and hand tools to reduce tinder-dry brush and trees to stop the flames.

isis-killer-beheading-video-story-top Ryanair cancelled flights list: Travel advice as pilots stage walkout
Aug 11, 2018 - 18:41
In July, around 300 flights were cancelled in similar strikes in Portugal, Spain and Belgium . But Ryanair pilots say they earn less than counterparts at other airlines like Lufthansa.

isis-killer-beheading-video-story-top Whitmer wins Democratic nomination for MI governor
Aug 11, 2018 - 18:33
Clair Shores, who voted for Whitmer. "I will not be governor managing Michigan's decline into a smaller, less significant state. Whitmer also went after Bill Schuette and the eight years MI has spent with a Republican governor in office.

isis-killer-beheading-video-story-top Another strong quake hits Indonesia's Lombok, witnesses say buildings have collapsed
Aug 11, 2018 - 17:44
Search and rescue teams have been working to access those in the worst-affected areas, close to the epicentre in northern Lombok. As relief agencies get to work on the ground, they warned the full impact of the quake may take days to become known.

isis-killer-beheading-video-story-top Mourinho hails ‘monster’ Pogba performance as Man Utd make winning start
Aug 11, 2018 - 14:22
The manager has names but after, it's how we feel. "Maybe on the next game I leave it to Alexis", said Pogba . He also said he'd moved past the excitement of the summer, adding: "Winning the World Cup is in the past".

isis-killer-beheading-video-story-top 'Suicidal Male' Steals Plane And Crashes After 'Unauthorized Takeoff' From Sea-Tac
Aug 11, 2018 - 14:12
The sheriff says that the man is a Pierce County resident, and that it is believed that he is the only casualty from the crash . Two F-15s fighter jets pursued the plane but were not involved in the crash , local TV station KIRO7 reported.

isis-killer-beheading-video-story-top Unai Emery: 'Pep Guardiola is a better manager than me'
Aug 11, 2018 - 11:46
Vida has been frequently linked with a move to the Premier League during the summer with Liverpool also interested. But these five players are in this possibility to be the captain'.

isis-killer-beheading-video-story-top 27 dead in Kerala rains, 2 more Idukki shutters opened
Aug 11, 2018 - 11:15
Tourists were barred from entering the hilly Idukki district after roads caved in at many places. As the water level continued to rise in the reservoir, two more shutterd were opened later.

isis-killer-beheading-video-story-top Jurgen Klopp insists club 'are still Rocky Balboa’
Aug 11, 2018 - 08:05
At the end, I'm pretty sure we have a fantastic football team on the pitch and hopefully I have to make a few decisions. We are in for an entertaining 90 minutes at Anfield, so here is everything you need to know about the match...

isis-killer-beheading-video-story-top Cam Newton, Kelvin Benjamin exchange words
Aug 11, 2018 - 05:15
Neither will get the opportunity to hash things out since the two teams do not face each other in the upcoming season. He also reiterated that he was "moving on" from his comments about Newton. "Not at all man", he answered.

isis-killer-beheading-video-story-top Everton seal hat-trick of deadline day deals
Aug 10, 2018 - 14:51
Manchester United had been competing with the Toffees for Mina, but the Old Trafford club pulled out of negotiations that morning. The Club reserves the right to buy back the player.

isis-killer-beheading-video-story-top Saudi airline stops flights to Canada amid escalating diplomatic row
Aug 10, 2018 - 13:28
The Maple Leaf flag is seen in a display case in the Hall of Honour on Parliament Hill in Ottawa on Saturday, Feb. 14, 2015. In response, the Saudi government has expelled Canada's ambassador from the country and frozen all new trade with Canada.

isis-killer-beheading-video-story-top Gautam Gambhir believes Lord’s Test can decide India’s fate in the series
Aug 10, 2018 - 13:09
Hosts England lead the five-match series after their 31-run victory in the gripping first Test at Birmingham. With rainfall forecasted for Friday, another frustrating day with a lot of interruptions is on the cards.