LEAD) Samsung Group to invest 26.5 tln won this year

(ATTN: UPDATES throughout with more details and comment from group official)
SEOUL, Jan. 15 (Yonhap) -- South Korea's largest conglomerate Samsung Group said
Friday that domestic and overseas investments for this year will reach 26.5
trillion won (US$23.61 billion), with the lion's share going to its flagship unit
Samsung Electronics Co.

According to a preliminary investment plan, Samsung Electronics will spend 18.4
trillion won on domestic and overseas investments this year, said a Samsung Group
official.
"Samsung Group will invest 26.5 trillion won and Samsung Electronics will spend
18.4 trillion won," the official, who declined to be identified, said by phone.
"But this is not a final plan. Details of the investment plan will be confirmed
later in March."
Earlier in the day, Lee Soo-bin, chairman of Samsung Life Insurance Co. and also
the de facto representative of the group, said that Samsung Group will spend
about 26 trillion won this year.
"Samsung Group as a whole plans to invest about 26 trillion won and will hire
about 19,000 employees," Lee Soo-bin, chairman of Samsung Life Insurance Co. and
also a de facto representative of the group, told reporters on the sideline of a
meeting of members from the local business community in Seoul.
Lee added that the size "may increase depending on the economic situation."
He said that "about 60 to 70 percent" of the investment will be allocated to
Samsung Electronics, the world's largest maker of memory chips and flat-panel
TVs.
The Samsung Group official said the amount represents the second largest
investment in its history after some 27.8 trillion won spent in 2008.
ylee@yna.co.kr
(END)

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