Samsung on Tuesday outlined a plan to pour more than $350 billion into its businesses and create tens of thousands of new jobs over the next five years.
Despite an uncertain economic environment exacerbated by long-running supply chain issues and the war in Ukraine, the South Korean conglomerate said that it would invest 450 trillion won ($356 billion) through 2026, primarily in core businesses such as chipmaking and biopharmaceuticals. That marks a 30% jump from what it spent in the previous five-year period.
The bulk of the investment — 360 trillion Korean won ($285 billion) — will be invested in South Korea. It did not specify where the rest of the funding would be allocated.
The group is also embarking on a hiring spree that will create 80,000 new jobs through 2026, “or about…