Samsung to invest 356 billion to tackle chip shortage

Samsung has announced that it will invest $356 billion over the next five years to accelerate growth in the semiconductor and other technological areas.

The company said that investments through to 2026 are expected to drive Samsung’s growth in areas including the chip sector and biopharmaceutical sector, with plans for up to 80% of investment to be used in South Korea.

The investment is also expected to create 1.07 million jobs and marks a 30% increase over Samsung’s previous investment in the five years leading up to 2021.

Photo credit: SUNG YOON JO, Shutterstock

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