S.Korea’s Samsung Group to invest 38 bln$ in 2011

Samsung Group, South Korea’s largest business group, said on Wednesday it plans to invest a record 43.1 trillion won (38.3 billion dollars) in 2011 on research and development and to develop new businesses.

The group will invest 29.9 trillion won in expanding or building new plants producing televisions, liquid crystal display panels and other electronics gadgets and additional 12.1 trillion won on research and development.

The group will also hire 25,000 new workers, it said in a statement.
The new investment for 2011, up 18 percent from the previous year, is intended to “cement global market dominance of Samsung’s major businesses,” it said.