Lotte, Samsung, Hyundai & Hanwha to spend $472B over 5 years On Tuesday, four of Korea's major conglomerates announced massive business investment plans totaling nearly 600 trillion won ($472 billion). For starters, Samsung Group will spend 490 trillion won over the next five years to develop new growth engines such as semiconductors, biopharmaceuticals and artificial intelligence. Hyundai Motor Group's three flagship units also plan to invest 63 trillion won in the next three years. In addition, Lotte Group will spend 37 trillion won over the next five years, and Hanwha Group announced similar plans. Lotte is investing W37 trillion over the next five years in expanding facilities to increase EV battery recharging stations and other businesses. The conglomerate will also build more shopping malls and overhaul existing stores.
Samsung said it will invest W450 trillion over the next five years, 80 percent on research and development and facilities in Korea (US$1=W1,264).
The key areas are semiconductors, biotechnology, artificial intelligence and next-generation mobile networks.
Hyundai and affiliates Kia and Hyundai Mobis will invest W63 trillion in Korea until 2025. First, W16.2 trillion will be spent on eco-friendly vehicles such as electric cars, hydrogen cars and plug-in hybrids. The automaker will add assembly lines at existing factories to produce them. Another W8.9 trillion will be invested in robotics, air mobility and self-driving technologies. It hopes to commercialize wearable robots and an air taxi service.
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