The Korean tech group Samsung intend to invest €138bn in autonomous driving, artificial intelligence, and 5G technology over the next three years.
This in response to the challenge that the smartphone market is cooling off worldwide. In addition, major customers like Apple are looking for ways to free themselves from the dependence on Samsung as a supplier.
Samsung will focus on emerging industries such as artificial intelligence, technology for autonomous driving, and networks for the fifth generation of mobile communications (5G). The program also aims to revitalise the domestic economy in South Korea, Samsung said. In addition, they aspire to become “a leading force in building and stimulating the ecosystem of innovative companies for the digital economy”. The investments are made by various Samsung companies, but above all by Samsung Electronics.
72 percent of the planned investments would be made in South Korea. It is expected that a total of 700,000 new jobs will be generated outside of Samsung, primarily in the chip and display industries.