Samsung Companies Plan Record Spending to Continue Growth

Samsung Group, South Korea’s largest industrial group, said it will boost spending to a record 47.8 trillion won ($41.7 billion) this year to continue growth in its chip and display businesses.

The investment by Samsung Electronics Co., the world’s largest maker of computer-memory chips, and its affiliates represents a 12 percent increase from last year, the group said in an e-mailed statement today. The companies will spend 31 trillion won in capital expenditure, according to the statement. It didn’t give details on how the money will be allocated.