Seoul, Korea-
Li Zai, vice chairman of Samsung Electronics
As South Korea's leading companies are coping with slowing demand and the impact of trade conflicts between Washington and Beijing, yong vowed to continue strong investments in key businesses.
At a weekend meeting with Samsung executives, Li called for "unwavering focus on the long term
And reiterated plans to invest 133 trillion won ($112 billion)
Strengthen the presence of companies in non-companies
Memory chip market
Samsung also announced a third last year.
Annual planned investment of 180 trillion won ($152 billion)
Strengthen its storage chip department and other key departments and hire more than 40,000 people in the process.
"In this rapidly changing environment, we need to stay committed to the long term
This is the fundamental leader of technology, "Li said in a statement provided by Samsung.
Samsung is the world's largest manufacturer of memory chips and smartphones, both components and finished products are very powerful.
The company's operating profit in the last quarter fell more than 60% from a year earlier, as chip prices fell and demand for display screens fell.
Samsung predicts that while demand for mobile products is expected to improve slightly, the price of memory chips will continue to fall in the second quarter.
Analysts say the potential U. S.
Sanctions against Chinese tech giant Huawei could further reduce demand for chips that use such products, hurting Samsung.
In the long run, however, Samsung's smartphone business may benefit from sanctions against major competitors in the sector.
Associated Press copyright 2019.
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