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Samsung to invest $160 billion, create 40,000 jobs in the next 3 years Updated: 2018-08-09 10:18:18 KST

Samsung Group announced on Wednesday that it plans to invest 1-hundred-60 billion U.S. dollars over the next three years, with 1-hundred-10 billion dollars of that investment to be allocated in Korea.

Twenty-two billion dollars of that investment will be focused on emerging industries, such as AI, fifth-generation networks and bio technologies.

Samsung also said it will directly hire around 40-thousand people over the next three years.
The company usually recruits between 20-thousand and 25-thousand new workers over that period, but plans to employ an additional 20-thousand employees to help create youth jobs and make a smooth transition to the 52-hour work week.

Samsung will also work closely with the Ministry of Small and Medium-sized Enterprises and Startups to invest ninety-eight million dollars over a five-year period to help 2,500 companies adopt smart factory solutions, which could help create about 15-thousand jobs over the next five years.

Seo Bo-bin, Arirang News.
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