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Samsung to invest $21B in new technology businesses 2010-May-10 at 23:41 PDT

Posted by Scott Arbeit in Blog.
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Samsung to invest US$21 billion in solar cells, LEDs, more, by Dan Nystedt, 11-May-2010

The 23.3 trillion Korean won (US$21 billion) investment is aimed at developing five new businesses that the company expects to create 45,000 new jobs and generate 50 trillion won in annual revenue for affiliate companies by 2020, Samsung said in a statement Tuesday.

The company has earmarked 6 trillion won [$5.3B] of the amount for solar cells, using crystalline silicon technology and thin film technology. Another 5.4 trillion won [$4.7B] will be used for rechargeable batteries for hybrid electric vehicles and 8.6 trillion won [$7.6B] will go to LED (Light Emitting Diode) technology for a range of power-saving applications, from computer screen backlights to car electronics and indoor/outdoor lighting.

On the medical side, Samsung will invest 2.1 trillion won [$1.8B] in biopharmaceuticals and 1.2 trillion won [$1.0B] in electronic healthcare equipment, starting from external diagnostic tools such as blood testing devices.

Let’s go over this again.

Five new multi-billion dollar business to step up and own these important emerging markets… markets that will be important over at least the next four decades.  This is exciting stuff.

Can you name a U.S. company that’s going to do anything like this?  I’ll be honest, I can’t.  But it’s important to know where we are as a nation right now in terms of being competitive in these areas, isn’t it?