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The Samsung Group says it will invest W47 trillion (about US$47 billion) in research and development over the next five years, the largest amount ever. The plan aims to make the conglomerate a global leader in electronics, machinery and chemicals. Samsung also set targets of W270 trillion in sales and W30 trillion in pre-tax profit and wants to boost its brand value to US$70 billion by 2010. The group made the announcement on Tuesday.
Samsung will focus investment on the semiconductor, display, mobile communications, high value-added shipbuilding and nanotechnology sectors to find new growth engines the company hopes will feed it five to 10 years down the road.
The firm reiterated it will hire 30,000 R&D staff over the next five years and spend an additional W5.2 trillion on developing basic technologies, stimulating joint research with universities and strengthen the competitiveness of subsidiaries.
By 2010, Samsung says, the number of its cash cows will have grown to 50 from the current 21 including DRAM and NAND Flash memory.
(englishnews@chosun.com )
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