Samsung to Invest $20 Billion in Environment, Healthcare
May 12, 2010
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Samsung plans to invest more than $20 billion over the next 10 years in five new businesses in the environmental and healthcare industries.
Seoul-based Samsung - already a global giant in appliances, consumer electronics, and semiconductors - plans to invest 23.3 trillion Korean won by 2020 in:
• solar cells
• rechargeable cells for hybrid electric vehicles
• light emitting diode (LED) technologies
• medical devices
Samsung expects to create 45,000 jobs and generate 50 trillion won in annual revenue for affiliate companies by 2020.
Key investments outlined during a recent meeting included:
• 6 trillion won will go into development and manufacture of solar cells, initial focusing on crystalline silicon technology and later on thin film. The business is expected to generate 10 trillion won in annual revenue and employ 10,000 workers by 2020.
• 5.4 trillion won will be invested in rechargeable cells for hybrid electric vehicles. The business is expected to generate 10.2 trillion won in annual revenue and employ 7,600 by 2020.
• 8.6 trillion won will go into LED technology for applications including backlit displays, lighting, and car electronics. Samsung LED expects to generate 17.8 trillion won in annual revenues and employ 17,000 staff by 2020.
• 2.1 trillion won to be invested in biopharmaceuticals to explore opportunities in the biosimilars (new versions of once-proprietary pharmaceuticals for which patents have expired). The business is expected to generate 1.8 trillion won in annual revenue and employ 710 people by 2020.
• 1.2 trillion won will go into the development and manufacture of electronic healthcare equipment with an initial focus on external diagnostics tools such as blood testing devices. The business is expected to create revenue of 10 trillion won annually and employ 9,500 people by 2020.
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