Samsung plans to invest in sustainable cheap energy - 11/05/2010
Electronics manufacturer Samsung has announced plans to invest heavily in sustainable cheap energy.
The South Korean company said it will spend $20 billion (£13.5 billion) on green energy, as well as healthcare, as part of a new strategy aimed at finding a way to circumvent depleting resources, reports AFP.
The company's investment will be diverted to solar cells, light emitting diode technologies, rechargeable cells for hybrid electric vehicles, biopharmaceuticals and medical devices.
It is expected that the investment will lead to the creation of around 45,000 jobs and generate 50 trillion South Korean won (£29 billion) in annual revenue for affiliate companies by 2020.
Lee Kun-Hee, chairman of Samsung, said: "Governments around the world are now investing in green industries to address the issues of depleting energy resources and the protection of our planet's environment.
"When other global companies hesitate, we must move ahead decisively to take this opportunity, and this will also benefit the country's economy."
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