South Korean tech giant Samsung Electronics has announced hundreds of billions of dollars of new investment over the next five years in areas that promise strong future growth.
Samsung said Tuesday that it's going to invest 450 trillion won, which is more than 350 billion U.S. dollars, in profitable industries including semiconductors and bio science.
This new five-year investment plan is an increase of 40 percent from the last one.
It said roughly 80 percent of the money will be spent in Korea on R&D and new facilities.
Also, the company said it plans to hire 80-thousand new employees, and sees the investment leading to the creation of more than a million jobs more broadly.