Samsung to invest big in chip, bio industries

Samsung Electronics said on Tuesday it will invest 450 trillion won ($355 billion) in semiconductor and biopharmaceuticals for the next five years, as South Korea’s largest company seeks to further expand its business in future growth areas.

The company said it will spend 360 trillion won, or 80 per cent of the investment, for research and development, and talent nurturing in South Korea, especially in advanced chipmaking.

Samsung Electronics and Samsung Biologics will lead the investment in their respective business areas, it said.

The planned investment is up 120 trillion won from the total 330 trillion won Samsung invested over the past five years, according to media agency reports.

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