Samsung plans to create 80,000 new jobs in 5 years with an investment of US$ 356 billion

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Samsung on Tuesday outlined a plan to invest more than $350 billion in business and create tens of thousands of new jobs over the next five years.

Despite an uncertain economic environment exacerbated by long-standing supply chain problems and the war in Ukraine, the South Korean conglomerate said it would invest 450 trillion won ($356 billion) by 2026, mostly in core businesses such as manufacturing. of chips and biopharmaceuticals.

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This marks a 30% jump from what it spent in the previous five-year period.

Most of the investment — 360 trillion Korean won ($285 billion) — will be invested in South Korea. The company did not specify where the rest will go.

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The group is also embarking on a wave of hiring that will create 80,000 new jobs by 2026, “or around 16,000 positions a year,” it said in a statement. Previously, its goal was to generate 40,000 jobs from 2021 to 2023.

Most jobs are expected to be in South Korea. But the tech giant also has research and development centers around the world, including in the UK, US, Canada and the Philippines.

Samsung is best known for its electronics division, with its popular smartphones and televisions. In recent years, the company has delved even further into its role as a semiconductor supplier, as manufacturers around the world suffer from shortages.

Memory chips, which have proven to be an important moneymaker for Samsung, will continue to be an area of ​​focus with further investment planned, according to the company.

On the consumer side, the company plans to strengthen the development of 6G, the next generation of wireless telecommunications technology.

The news comes just days after US President Joe Biden visited a Samsung semiconductor factory at the start of a visit to Asia.

“Much of the future of the world will be written here, in the Indo-Pacific, for decades to come,” Biden said as he passed the factory in South Korea.

Source: CNN Brasil

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