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Samsung ramps up investment

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Samsung ramps up investment

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South Korea’s largest business conglomerate, Samsung has said it will boost its investment spending by nearly one-fifth to a record 29 billion euros this year.

The aim is to build new businesses and widen its lead in technology sectors.

Samsung is the world’s top maker of memory chips, display screens and flat-screen TVs, the second largest mobile phone handset maker and the third-largest shipbuilder.

The group has nearly 70 member companies and its annual sales account for around one-fifth of South Korea’s annual gross domestic product.