In the field of AI, which is becoming a priority for almost every technology company on the planet, Samsung said its aim was to increase its number of AI researchers to about 1,000 globally.
Samsung will put more than $22 billion toward tech like AI and 5G.More news: Cam Newton, Kelvin Benjamin exchange words prior to kickoff
Overall, the group plans to invest a total of 180 trillion won (S$219 billion) over the next three years across its businesses, with more than 70 per cent of the funds to be spent in South Korea.
The three-year investment plan, announced shortly after Samsung Electronics Co.
Areas that will be targeted for investment include the company's manufacturing hubs, as well as existing memory and display businesses.More news: Djokovic happy to beat Polansky and the clock in Toronto
No company in South Korea can match Samsung's scale in investment or job creation.
When Lee met Finance Minister Kim Dong-yeon earlier this week, the vice chairman said Samsung will focus on developing competitive technologies to make contributions to society. In 2010, under the leadership of Lee's father, Lee Kun-hee, who was then in charge of the group, Samsung had said it would spend 23 trillion won over the following 10 years on future businesses. The numbers being proposed are much higher than the 25,000 the company hired in the recent three years.
With 130 trillion won of the combined 180 trillion won meant to be invested at home, Samsung said around 700,000 jobs will be created overall here following its move.More news: Mourinho doesn't envisage Yerry Mina at Manchester United
Samsung said it already helped 1,086 companies adopt smart factory solutions from 2015 through 2017, with the beneficiaries observing an average 5.5 percent increase in their sales. Samsung's target is to provide support for 300 external candidates and 200 internal projects in the next five years.