Samsung is putting more than $22 billion toward artificial intelligence, 5G networks, biopharmaceuticals and electronic automotive parts over the next three years.
“Samsung aims to lead efforts to foster a vibrant ecosystem for innovations and growth, leveraging its technology and decades of experiences in creating successful businesses,” the company said in a statement Wednesday. Samsung didn’t immediately respond to a request for further comment.
In addition, the company will also expand C-Lab, its internal venture incubator and support 500 projects.
Samsung projects that the investment will lead to the creation of 40,000 jobs over the three years.