Lee Jae-yong, Vice Chairman of Samsung Electronics

Soul [South Korea], August 25 (ANI / World Economy): Less than 15 days after Samsung Electronics’ vice chairman Lee Jae-yong was released on parole, South Korean tech giant announced a large-scale investment plan.

He supported public opinion on parole and announced a large investment plan to revive the economy.

According to the industry, Samsung Electronics announced on August 25 a roadmap to invest 240 trillion won in semiconductors, biotechnology, next-generation communications, and new growth IT over the next three years. Of the total investment, $ 180 trillion will be invested in Korean domestic industry.

This is the largest amount ever, 60 trillion won, which exceeds the 180 trillion won announced in 2018. Samsung will also directly hire 40,000 people over a three-year period to resolve youth unemployment. The indirect employment effect of investment will reach 560,000.

“The next three years after COVID-19 will be the time for a new future to be reorganized,” Samsung said. “We are presenting Samsung’s role as a company that can open up a new future and move forward with society.” “Through investment, employment and Win-Win strategies, Samsung has the expectations and hopes of its people. The investment and employment plan presented this time is analyzed as a response to Lee’s parlor.

Vice Chairman Lee reportedly returned to management on August 13 with parole and met with executives from major partners such as Samsung Electronics to confirm the investment plan.

President Moon Jae-in previously said, “I want the people to understand parole. In a serious crisis, many people expect parole to overcome the crisis, especially in the fields of semiconductors and vaccines.” Said. Regarding the parole of Vice Chairman Lee, he said, “It is a decision that takes into account the national economy and the global economic environment in the long-term COVID-19 pandemic situation.” Vice Chairman Lee said, “We are fully aware of the concerns, criticisms and high expectations. About me. I will do my best.” Companies and the financial industry are also paying attention to what investment plans will be announced. I am.

In particular, Samsung has decided to aggressively invest in the semiconductor business. This is because Intel in the United States and TSMC in Taiwan have decided to significantly increase their investment in foundries (contract manufacturing of semiconductors) by restructuring the global semiconductor supply chain, which has intensified competition in the system semiconductor market.

“The semiconductor business is the” safety valve “of the Korean economy and is the core business of the Fourth Industrial Revolution.

When Samsung loses its competitive edge, it’s almost impossible to make a comeback. Therefore, Samsung’s aggressive investment is effectively a survival strategy, “Samsung said. “Samsung will strengthen the leadership of the semiconductor industry as a whole by ensuring the competitiveness of system semiconductors and maintaining the absolute advantage of in-memory technology.” Samsung has said, “Bio-sovereignty since COVID-19.” As an important national issue has emerged, we are aiming to realize a “second semiconductor history” in the biotechnology industry. Samsung Electronics is expected to take the top position in this area. Of the Contract Manufacturing Organization (CDMO) when the Fourth Factory was completed in 2023

In addition, we are speeding up win-win management by expanding employment, training young people and facilitating ways to invest in the startup ecosystem.

In particular, Samsung is the only group among the four major groups that maintains regular recruitment start-ups. Other major companies such as Hyundai Motor, SK and LG tend to abolish regular opening and expand immediate opening.

“When Samsung hires 40,000 employees over the next three years, Samsung’s domestic affiliates will have more than 300,000 employees for the first time,” said Oh Il-seon, chief technology officer of the Korea CXO Institute. Probably. South Korean employment has maintained between 250,000 and 260,000 in the last 10 years ”(ANI / World Economy)

Lee Jae-yong, Vice Chairman of Samsung Electronics

Source link Lee Jae-yong, Vice Chairman of Samsung Electronics

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