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Samsung earmarks $22bn for nurturing new fields

South Korean company aims to grow 5G and biopharma businesses

Samsung Vice Chairman Lee Jae-yong visits the company's semiconductor fabrication facility in Pyeongtaek, South Korea. (Photo courtesy of Samsung)
Samsung Vice Chairman Lee Jae-yong, second from right, visits the company's semiconductor fabrication facility in Pyeongtaek, South Korea. (Photo courtesy of Samsung)

SEOUL -- Samsung Electronics will spend 180 trillion won ($160 billion) on capital investment and research and development over the next three years, of which 25 trillion won, or $22 billion, will go to the development of new businesses, the company said Wednesday.

The overall capital investment and R&D outlay is an increase of 10 trillion won from the previous three-year period through 2017 for the South Korean technology company.

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