Samsung to invest $22 billion in AI, auto componentsLast updated on Aug 08, 2018, 05:06 pm
Samsung Electronics and its affiliated companies plan to spend $22 billion over the next three years on artificial intelligence, auto components, and other future businesses.
Samsung today said it will spend the sum, amounting to South Korean Won 25 trillion, to hire AI researchers, be a global player in next-generation telecoms technology, and boost its presence in electronics components for future cars.
South Korea largely dependent on Samsung for investment, jobs
South Korea relies heavily on Samsung and its affiliated companies for investment and jobs, even after a corruption scandal that resulted in the bribery prosecution of Samsung's leader, Lee Jae-yong.
Lee was freed after nearly a year in jail.
Samsung's investment announcement came two days after South Korea's Finance Minister visited a Samsung computer-chip factory, where he touted Samsung's importance in Asia's fourth-largest economy.