Samsung Investing $20 Billion In Futuristic Technologies

Samsung to invest $22 billion into new growth areas like A.I. and 5G

Samsung announces multi-billion dollar investment in AI, 5G, and more

Well, the South Korean electronic giant announced plans to invest 25 trillion South Korean won (around $22.3 billion in USA currency) over the next three years in AI, 5G, automotive component, and biopharmaceutical technologies.

Its C-Lab in-house incubator will back 500 projects, 300 external and 200 internal, to help foster new kinds of solutions and businesses.

The company said the investment made locally will have the effect of creating some 700,000 jobs, especially from the chip and display industries.

The investments, which will be primarily led by Samsung Electronics, will be used for the company to add artificial intelligence researchers, to be a global player in next generation telecoms technology and to boost its presence in electronics components for future cars.

Total sales for April-June fell 4.1 per cent year-on-year to 58.48 trillion won, with revenues for the company's mobile division plunging 22 per cent in the same period.

Overall, Samsung's investment plan is set to create 40,000 jobs across its various businesses.

Including the latest plan, spending by Samsung Electronics and its affiliates on research and development and capital expenditures over the next three years will amount to 180 trillion won ($161 billion), Samsung said.

Taliban fighters storm Afghanistan's Ghazni
A second government official said it was too unsafe for people to leave their homes and he had no immediate details on casualties. Afghan officials said only one of its fighters was confirmed killed, but a Taliban spokesman said 140 enemy forces were dead.

Samsung is also looking to be a front runner in the 5G race.

Samsung financing will be extended to a larger number of subcontractors, with KRW4 trillion ($3.6 billion) to be made available in total through supplier support programs.

Lee was freed after almost a year in jail.

He has since been released after some of his convictions were quashed on appeal, and is now awaiting a Supreme Court decision.

Samsung's second quarter profit dipped slightly to 11.04 trillion won, down from 11.05 trillion won a year earlier.

The Samsung logo is seen in Seoul, South Korea, March 23, 2018.

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