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Samsung to put USD 22 billion in artificial intelligence, autos

AP  |  Seoul 

Electronics and its affiliated companies plan to spend USD 22 billion over the next three years on artificial intelligence, auto components and other future businesses.

said today it will spend the sum, amounting to 25 trillion won, to hire researchers, to be a in next generation telecoms and to boost its presence in for future cars.

relies heavily on and its affiliated companies for investment and jobs, even after a corruption scandal that resulted in the bribery prosecution of the conglomerate's leader,

Lee was freed after nearly a year in jail.

The company's investment announcement came two days after the minister visited a Samsung computer chip factory, where he touted Samsung's importance in Asia's fourth-largest economy.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 08 2018. 11:35 IST