This archive report was first published on 24 August 2021.
On August 24, 2021, Samsung Group, South Korea's largest conglomerate, unveiled a $205 billion investment blueprint aimed at making the company a leader in a range of technologies from semiconductors to robotics and creating 40,000 new jobs.
The plan, which will see the company commit 180 trillion won ($205 billion) to South Korea, is expected to create another 10,000 jobs on top of 30,000 already planned, and could induce as many as 560,000 new hirings in related industries.
As part of the plan, Samsung will seek to enhance cutting-edge technologies to meet long-term demand rather than short-term changes, and will also pursue corporate acquisitions.
The conglomerate will also expand its biopharmaceutical business run by Samsung Biologics and Samsung Bioepis, and build two new manufacturing plants on top of three currently in operation to tap into the manufacturing of vaccines.
The announcement comes just days after Lee Jae-yong, the de-facto leader of the conglomerate, walked out of prison on parole after completing only about half of his jail term.
