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 new growth area


Samsung to invest $22 billion into new growth areas like A.I. and 5G

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South Korea's largest conglomerate Samsung Group is planning to invest about 25 trillion Korean won ($22 billion) over the next three years into new growth areas, led primarily by Samsung Electronics. Those investments would be made in four key areas: artificial intelligence (AI), fifth-generation mobile network technology, electronic components for future cars and bio-pharmaceuticals, the company said on Wednesday. To expand its AI capability, Samsung will be increasing the number of researchers to 1,000 across its global AI centers in the U.K., Canada, Russia, U.S. and South Korea. Samsung Electronics is currently the world's largest smartphone-maker but also boasts a very strong semiconductor business that supplies chips to the companies such as Apple. Overall, the conglomerate said it planned to invest a total of 180 trillion won ($161 billion) over the next three years, which will include capital expenditures as well as research and development in its semiconductors and displays businesses.