Samsung to spend US$360bil over four years

Driving growth: A man walks past Samsung television sets displayed at the company’s D’light flagship store in Seoul. The firm has unveiled plans to invest US$151bil (RM663bil) through 2030 to delve deeper into advanced products. — Bloomberg

SEOUL: The Samsung group plans to raise spending by more than 30% to 450 trillion won (US$360bil or RM1.58 trillion) over the half-decade to 2026 to shore up businesses from chips to drugs, as South Korea’s conglomerates grapple with growing economic and supply shocks.

The corporate giant – whose units from Samsung Electronics Co to Samsung Biologics Co dominate South Korea’s economy – promised in a statement to create 80,000 jobs through 2026, mostly in semiconductors and biopharmaceuticals.