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Asia300

Samsung plans big investment as pressure grows to hire more

Announcement on chip or display investment expected as soon as early August

Samsung has been working to curry favor with South Korean President Moon Jae-in, who has been harsh on the country's family-run conglomerates   © Reuters

SEOUL -- Samsung Electronics is preparing to announce a major investment in its home market of South Korea, in what is expected to be in the field of chip memories or high-performance displays for televisions and smartphones.

The move comes as the conglomerate is under criticism from the public for not increasing hiring despite robust earnings. The job-creating investment would help improve relations with the administration of President Moon Jae-in, whose policy for "income-led growth" has fallen short of hoped-for results.

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