Samsung already has its Vision 2020 strategy and today they’ve announced another long-term plan to invest in environmental and healthcare industries till 2020. The five new areas where Samsung will make a total investment of 23.3 trillion won will be solar cells, rechargeable cells for hybrid electric vehicles, Light Emitting Diode (LED) technologies, biopharmaceuticals and medical devices.
Here’s a breakdown of the investment that will be done through 2020.
- 6 trillion won in development and manufacture of solar cells, initial focusing on crystalline silicon technology and later on thin film. Expected to generate 10 trillion won in annual revenue and employ 10,000 workers by 2020.
- 5.4 trillion won to be invested in rechargeable cells for hybrid electric vehicles. Business is expected to generate 10.2 trillion won in annual revenue and employ 7,600 by 2020.
- 8.6 trillion won investment in LED technology for applications including backlit displays, lighting, and car electronics.Samsung LED expects to create 17.8 trillion won in annual revenues and employ 17,000 staff by 2020.
- 2.1 trillion won to be invested in biopharmaceuticals to explore opportunities in biosimilars market with expiration of long-held industry patents. Collaboration between Samsung Medical Center and related business units expected to generate 1.8 trillion won in annual revenue and employ 710 people by 2020.
- 1.2 trillion won in development and manufacture of electronic healthcare equipment with an initial focus on external diagnostics tools such as blood testing devices. Expected to create revenue of 10 trillion won annually and employ 9,500 people by 2020.