Samsung plans to invest $18.6 billion in South Korea

Samsung Electronics Co Ltd said on Tuesday it will invest at least $18.6 billion in South Korea to extend its lead in memory chips and next-generation smartphone displays, in a plan that promises to create almost half a million jobs.
 

The investment underscores Samsung's determination to widen its lead in memory chips, which are expected to propel Asia's third most-valuable company to record profit this year. It routinely invests more than $10 billion in chips annually, helping it stay ahead of competitors such as cross-town rival SK Hynix Inc and Japan's Toshiba Corp.

The announcement follows repeated calls from new