Samsung unveils $205bn plan to hire 40,000 over three years

Samsung Group has unveiled a 240 trillion won ($205 billion) expansion that will entail hiring 40,000 people over three years, a sprawling investment blueprint intended to build the South Korean conglomerate’s lead in next-generation technologies.

Samsung Electronics Co. and affiliates like Samsung Biologics aim to lead research and spending in areas from telecommunications and robotics to corporate acquisitions. The country’s largest conglomerate is setting aside 180 trillion won for its home country alone and now aims to hire another 10,000 people over the period, on top of 30,000 new jobs already planned, the group said in a statement. Samsung Electronics’ shares finished Tuesday 3.1% higher.

The envisioned spending includes expenditures outlined previously, such as Samsung Electronics’ long-term goal of investing $151 billion through 2030 to delve deeper into advanced chipmaking.