Samsung to spend $360 Billion on Chips Biotech over five years

According to a Bloomberg report, Samsung plans to increase 30 percent to 450 trillion won, to increase their business chip production and grow their stock supply, which is equal to 360 billion dollars.

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Samsung Biologics which belongs to Samsung Electronics is dominating the Korean economy, and it promises to create more than 80,000 jobs by 2026 in the Semiconductor and pharmaceutical sector.

Samsung has taken this step to show its responsibility in the driving growth of the country and the company. Looking forward to fight with the rising inflation, and supply chain disruptions after the pandemic and Ukraine war.

Further, the Korean giant focuses on flagship technology including the smartphone, and semiconductor chips. The shipbuilding technology and healthcare look like a jewel of a sprawling empire that needs to be expanded as per the present condition.

Notably, Samsung is a world leader not only in manufacturing smartphones, displays, and memory chips but consumer appliances also. Out of the declared amount Samsung seems to be investing 151 billion dollars in advance chip-making till 2030.

However, the Korean tech is going to expand the semiconductor division. Previously also we have seen that Samsung was dedicated to building a chip foundry in Texas, US, and has already invested a huge amount. Alongside this investment, it wants to compete with Intel and TSMC and want to be among the global names such as Nvidia Corp. and Qualcomm Inc.