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Electronics

Samsung to invest $356bn over five years in strategic sectors

South Korean conglomerate targets long-term growth in chips, biopharmaceuticals

South Korean conglomerate Samsung Group says it will invest hundreds of billions of dollars through 2026 to speed up growth.   © Reuters

SEOUL (Reuters) -- Samsung Group will invest 450 trillion won ($356 billion) in the next five years to accelerate growth in semiconductors, biopharmaceutical and other next-generation technologies, Samsung Electronics said.

South Korea's top conglomerate said on Tuesday the investments through 2026 are expected to help Samsung drive long-term growth in strategic areas such as the chip sector, while pledging aggressive investments in the biopharmaceutical sector to make it as successful as its chip business.

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