Samsung To Spend $22 Billion On AI, Auto Tech, 5G 08/08/2018

Samsung to invest $22 billion into new growth areas like A.I. and 5G

Samsung Group said Wednesday that it planned to spend $22 billion to pursue new technology in areas like 5G mobile technology and artificial intelligence. Samsung Electronics Vice Chairman Lee Jae-yong has requested that the government ease regulations on the bio segment. "But Samsung can be more active in M&As to do better at AI or 5G, when Lee is fully back to his business", Greg Roh, an analyst at Hyundai Motor Securities, said.

Lee was freed after almost a year in jail.

Along with the direct employment of Samsung, its investment in South Korea was forecast to help induce around 700,000 jobs in related industries and businesses, the statement noted. The most notable appearance was in India, where Lee met with President Moon Jae-in and Samsung announced plans to expand its smartphone production there.

Of the total, KRW 130 trillion (around Rs. 7.97 lakh crores) will be spent in South Korea, and is expected to create 40,000 jobs, or 20,000 more than its previous hiring plans, Samsung said.

The remaining $138bn will be utilised for investment into semiconductor chip and display manufacturing technology and facilities, in what the group said will foster "high-value, differentiated products amid rising competition in the industry".

Rare fire tornado caught on film during United Kingdom industrial blaze
The "firenado" swept across the fields near the factory, as the fire sent dark plumes of smoke into the sky on Monday. The fire involved stacked plastic pallets, which were ordinarily used for making plastic crates for supermarkets.

No company in South Korea can match Samsung's scale in investment or job creation.

The company's investment announcement came two days after the finance minister visited a Samsung computer chip factory, where he touted Samsung's importance in Asia's fourth-largest economy. A total amount of 110 billion won will be raised for the program, with Samsung accounting for 60 billion won.

The announcement sent shares in contract drugmaker Samsung BioLogics (207940.KS) up 7 percent.

Samsung is also looking to be a front runner in the 5G race.

Talented students will receive opportunities to work at overseas research centers under cooperation with Samsung.

Related News:

  • Jose Mourinho 'not confident' of deadline day signings

    Jose Mourinho 'not confident' of deadline day signings

    In football you need time to work and players on the pitch to work and we didn't have that until now. The tactics to be changed in Championship Manager you can just press a button.
    Ben Stokes trial: England cricketer told ‘shut up or I’ll bottle you’

    Ben Stokes trial: England cricketer told ‘shut up or I’ll bottle you’

    The trial before Judge Peter Blair QC, the Recorder of Bristol, is expected to last between five and seven days in courtroom one. Stokes added he "felt under threat of immediate attack from both these men and I did what I did only in order to defend myself".

    New quake strikes Lombok island

    He told the Jakarta Globe that " residents panicked and ran from their shelters " and " several buildings were further damaged ". Another natural disaster has struck the Indonesian island of Lombok as the community battles to recover from Sunday's quake.
  • Koreas prepare for summit as North asks USA  to ease sanctions

    Koreas prepare for summit as North asks USA to ease sanctions

    It has urged Washington to take reciprocal steps including officially declaring an end to the war and dropping sanctions. The North noted that they returned remains of US soldiers who fought in the Korean War to the USA last week.
    Pochettino Without At Least 6 Players For Newcastle Trip

    Pochettino Without At Least 6 Players For Newcastle Trip

    Despite no new arrivals for the first season at their brand new stadium, Pochettino feels they can still go on to do great things this term.
    Over 150 Sask. students could be affected by Saudi dispute

    Over 150 Sask. students could be affected by Saudi dispute

    Fifteen of the 19 hijackers were citizens of Saudi Arabia, and Saudi royals have always been accused of complicity in the attack. Ireland, Australia, New Zealand, Japan and Singapore are also on the list of potential destination countries, Harbash said .
  • Three Miami Dolphins Protest During the National Anthem

    Three Miami Dolphins Protest During the National Anthem

    Former NFL quarterback Colin Kaepernick tweeted his support for the Miami players. "Albert Wilson joined him in protest". I don't really like the word "protest" because when people hear the word "protest" they think of it in a negative way.
    Saudi-led coalition claims deadly Yemen attack

    Saudi-led coalition claims deadly Yemen attack

    State Department spokeswoman Heather Nauert said the USA was "concerned" by reports of an attack resulting in civilian deaths. The missile was sacked from the rebel-held Yemeni province of Amran towards the Saudi city of Jizan, the coalition said.
    Chase Elliott wins at Watkins Glen

    Chase Elliott wins at Watkins Glen

    That forced him to pit again, dropping him out of contention after dominating the opening segment. "It never ceases to amaze me". Collecting wins - and a playoff point each - in the 20-lap first and second stages were Truex and Elliott, respectively.
  • Fredericton Police Confirm Four Dead In Shooting Incident

    Fredericton Police Confirm Four Dead In Shooting Incident

    CTV said Moore reported that "police escorted people from their homes" after announcing a suspect was in custody. The Fredericton police said in a post on Twitter the incident was ongoing and there were multiple fatalities.
    Fantasy Cricket: Dream11 tips for 2nd Test-- England v India

    Fantasy Cricket: Dream11 tips for 2nd Test-- England v India

    With the rain never stopping long enough for the toss to take place, both England and India have still to name their starting XI. Fans were treated to a stunning first Test in which England's mighty bowling effort saw them clinch the match by just 31 runs.
    Manafort suggested Chicago banker Calk as Army secretary, according to Gates

    Manafort suggested Chicago banker Calk as Army secretary, according to Gates

    An IRS agent, Michael Welch, testified that Manafort didn't report at least $16 million on his tax returns between 2010 and 2014. Prosecutors in Paul Manafort's financial fraud trial say they have eight witnesses left and expect to rest their case Friday.


Most liked

Cleveland Browns: Preseason Week 1 instant reactions
He hit 11 of 20 passes for 212 yards, didn't turn the ball over and converted two fourth-down plays with his feet. QB controversy in Cleveland? Last season coach Hue Jackson led the Browns to a ideal 4-0 record in the preseason.

China denies entry to Disney film featuring Winnie the Pooh
No reason has been given for the decision, but it's believed to be part of a nationwide clampdown on references to author A.A. The only other Disney film this year to receive a no-go from China was sci-fi film " A Wrinkle in Time ".

Everton Agree Deal to Sign Mina From Barcelona
Mina could thus, be a top signing for Everton , depending on how quickly he can settle in the Premier League . Moments later they also confirmed that Portugal global Gomes would join the Premier League side on loan.

USA justification for sanctions 'far-fetched' - Russian Federation
Listen to Newsbeat live at 12:45 and 17:45 every weekday on BBC Radio 1 and 1Xtra - if you miss us you can listen back here. Along with his daughter Yulia, he was left seriously ill after being poisoned by the nerve agent Novichok in March.

Mourinho Expects "No" Players To Sign For Manchester United Today
But Mourinho has been keen on bolstering his squad further after they finished second last season, 19 points behind champions Manchester City .

Emery set for baptism of fire as Arsenal host Man City
The Gunners have not won the Premier League title since 2004 and they ended up in sixth place and without a trophy last term. For a good part, Welbeck has played on either side of attack but through the middle, Emery now prefers other players there.

Man Utd blocked Mourinho from signing Willian
I enjoyed last season, the fight to finish where we finished and to manage the best position this club has had in five years. Former Arsenal playmaker Nicholas predicted that Mourinho wouldn't last the season at Manchester United after a hard summer.

Red Dead Redemption 2 gets long-awaited gameplay footage
In a 6 minute trailer, there's a lot to take in, and the next gameplay video promises to focus on missions and activities. Before you click on the video below remind yourself that everything you'll see is actual gameplay footage.

Melania Trump’s parents sworn in as US citizens
First lady Melania Trump's parents, Viktor and Amalija Knavs, were sworn in as United States citizens on Thursday. President Donald Trump's parents-in-law have become United States citizens in a private ceremony.

Michael Moore Releases Trailer For Anti-Trump Film "Fahrenheit 11/9"
Like " Fahrenheit 9/11 ", which tackled the impact of George W. Moore, an Academy Award-winning director, is helming the film. Fahrenheit 11/9 lands in theaters September 21.

Hamas vows retaliation after Israel kills two gunmen
The incident comes as the United Nations and Egypt continue to try to broker a deal for a lasting ceasefire between Israel and Hamas, which dominates Gaza.

Sonic the Hedgehog Movie Casts Sonic
A little known fact about Schwartz is that he was also credited under "Vocal Consultants" in Star Wars: The Force Awakens' BB-8. It was confirmed that Ben Schwartz ( Parks and Recreation, House of Lies ) will provide the voice for the title character.

Mina, Gomes: Everton sign Barça pair, plus Shakhtar's Bernard
He has signed a five-year contract and joins Lucas Digne , the left back who also moved from the Nou Camp this summer. He has played 14 times for Brazil , scoring once, with his last global appearance coming at the 2014 World Cup .

Poland slams Russian 'occupation' of Georgian regions since 2008
The guests will also visit the conflict line and meet with Georgian president, PM and speaker of parliament. The Russian military quickly routed the Georgian army during the August 2008 war.

Manchester United linked with shock deadline day move for Diego Godin
Bouyed by Godin's desire, the Premier League side lodged an offer to his agent and waited to hear back from Atletico's board. But Uruguay's signing can be a great news for the fans as he is considered as one of the best defender's in La Liga.