Samsung to pump £17bn into future technologies

Electronics giant Samsung plans to spend a bumper £17 billion over the next three years on artificial intelligence, car components and other future businesses.

The South Korean group said it will spend the money taking on AI researchers, to be a global player in next generation telecoms technology and to boost its presence in electronics components for future cars.

The country relies heavily on Samsung and its affiliated companies for investment and jobs, even after a corruption scandal that resulted in the bribery prosecution of the conglomerate’s leader, Lee Jae-yong – now freed after spending nearly a year in prison.