Samsung Electronics, Co., South Korea 's largest electronics manufacturer, and its affiliates will invest 23.3 trillion won (20.6 billion U.S. dollars) in environmental and healthcare businesses by 2020 in an effort to grow new business engines, the Samsung Group said Tuesday.
The investment will primarily be spent on solar cells, rechargeable battery for electric vehicles, light-emitting diode ( LED) technologies, as well as biopharmaceutical and healthcare products, under the goal of generating 50 trillion won (44.1 billion U.S. dollars) in annual revenue by 2020, the South Korean company said in a statement.
"In order to preserve the environment and save energy resources, governments from around the world are increasingly investing in green industries," Lee Kun-hee, the chairman of Samsung Electronics who recently rejoined the group, said in a statement.
Samsung said that 8.6 trillion won (7.6 billion U.S. dollars) will be spent on Samsung LED for LED-backlit displays, LED lighting, and car-electronics, while 6 trillion won (5.3 billion U. S. dollars) will be invested in developing future solar cells.
Also, 5.4 trillion won (4.8 billion U.S. dollars) will be earmarked for rechargeable batteries for hybrid electric vehicles, and 2.1 trillion won (1.9 billion U.S. dollars) and 1.2 trillion won (1.1 billion U.S. dollars) for biopharmaceuticals and electronic healthcare equipments, respectively, it added.
The investment will primarily be spent on solar cells, rechargeable battery for electric vehicles, light-emitting diode ( LED) technologies, as well as biopharmaceutical and healthcare products, under the goal of generating 50 trillion won (44.1 billion U.S. dollars) in annual revenue by 2020, the South Korean company said in a statement.
"In order to preserve the environment and save energy resources, governments from around the world are increasingly investing in green industries," Lee Kun-hee, the chairman of Samsung Electronics who recently rejoined the group, said in a statement.
Samsung said that 8.6 trillion won (7.6 billion U.S. dollars) will be spent on Samsung LED for LED-backlit displays, LED lighting, and car-electronics, while 6 trillion won (5.3 billion U. S. dollars) will be invested in developing future solar cells.
Also, 5.4 trillion won (4.8 billion U.S. dollars) will be earmarked for rechargeable batteries for hybrid electric vehicles, and 2.1 trillion won (1.9 billion U.S. dollars) and 1.2 trillion won (1.1 billion U.S. dollars) for biopharmaceuticals and electronic healthcare equipments, respectively, it added.
