Samsung Electronics Company Ltd says it plans to invest about $18 billion in South Korea to extend its lead in memory chips and next-generation displays for smartphones.
The company’s investment plan comes as new South Korean President, Moon Jae-in, calls on local businesses to create more jobs.
The world’s biggest memory chip maker said the spending more on its new NAND factory in Pyeongtaek to meet booming demand for data storage.
Samsung indicates that its South Korea investment could create up to 440,000 jobs.
Analysts say Samsung’s investment seeks to widen the gap in technologies.