Samsung unveils €175bn investment plan for chips and telecoms 

The expansion will entail hiring 40,000 people over three years

The expansion announcement comes days after Samsung scion Jay Y Lee walked out of jail. Picture: AP

Samsung Group has unveiled a 240 trillion won (€175bn) expansion that will entail hiring 40,000 people over three years, a sprawling investment blueprint intended to build the South Korean conglomerate’s lead in next-generation technologies.

Samsung Electronics and affiliates such as Samsung Biologics aim to lead research and spending in areas ranging from telecommunications and robotics to corporate acquisitions.