LONDON: Samsung Electronics Co., Ltd. announced on October 31, 2024, a capital expenditure plan of approximately KRW 56.7 trillion ($47.9 billion) for the year.

The investment aims to boost the competitiveness of its key businesses.

The total planned capital expenditure includes KRW 47.9 trillion for Device Solutions and KRW 5.6 trillion for Samsung Display Corp.

These investments will be made from January 1, 2024, to December 31, 2024. The funds will be used to invest in advanced technology to meet the demand for high-value-added products, enhance backend processes, and support research and development. For Samsung Display Corp, the investments will focus on facilities for mobile displays.

This expenditure is expected to strengthen Samsung’s business capabilities by solidifying its technology leadership, especially in the component business. However, the capital expenditure plan may be adjusted based on market conditions.