Published: Fri, August 10, 2018
Hi-Tech | By Grace Becker

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

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

The company has been hit by a series of scandals in recent years.

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.

In particular, the South Korean group plans to invest in the development of artificial intelligence, mobile communications technology 5G, electronic components for automobiles and bio-pharmaceutical business.

Considering Samsung has been cautious about commenting on its reentry into the vehicle business, the report said, creating the new team could hint at a strategic shift at the Korean tech giant.

It said the group plans to significantly expand artificial intelligence (AI) research capability, increasing the number of advanced AI researchers to 1,000 across its global AI centers, and heavily invest in biopharmaceuticals.

Samsung is making a big push on automotive parts business since the unit was set up in December 2015.

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Chris Woakes will come in if England opt for a further seam option, while Moeen Ali will play if the hosts plump for two spinners. Those are both facts that they will be keen to turn around - whether they are able to remains an altogether different prospect.

Areas that will be targeted for investment include the company's manufacturing hubs, as well as existing memory and display businesses.

"Samsung aims to lead efforts to foster a vibrant ecosystem for innovations and growth, leveraging its technology and decades of experiences in creating successful businesses", the company said in a statement Wednesday.

Samsung said the announcement followed months of deliberations and review by the management and the board of directors of different Samsung companies, including Samsung Electronics.

Lee was freed after almost a year in jail but former President Park Geun-hye and a close associate remain imprisoned for bribery and other charges.

With about 130 trillion won of the total will be invested in companies in South Korea, and is expected to create 40 thousand jobs, which is 20 thousand more than planned before, said Samsung. Moon requested Lee to make more investment in Asia's fourth-largest economy that can help fuel employment opportunities.

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