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Benzinga
Benzinga
Technology
Anusuya Lahiri

Samsung Looks To Invest $356B Over Five Years in Next-Gen Technologies - Here's Why

Samsung Chrysler South Korea Wikimedia Commons Indiana United States
  • Samsung Electronics Co, Ltd (OTC:SSNLF) looks to invest 450 trillion won ($356 billion) in the next five years to accelerate growth in semiconductors, biopharmaceuticals, and other next-generation technologies, Reuters reports.
  • The investments through 2026 will likely help Samsung drive long-term growth in strategic areas like the chip sector while pledging aggressive investments in the biopharmaceutical sector.
  • Samsung clarified that 80% of investments catered to South Korea, and the investment includes a 240 trillion won investment pledge made in August 2021.
  • The investments will likely create 1.07 million jobs and be necessary for South Korea's economic security.
  • Samsung SDI Co Ltd (OTC:SSDIY), the group's battery unit, and Stellantis N.V. (NYSE:STLA), the parent company of Chrysler, will likely announce their new battery plant in the U.S. state of Indiana.
  • Price Action: SSNLF shares closed at $53.99 on Monday.
  • Photo via Wikimedia Commons
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