Samsung Electronics to invest $22.7b in 2010

South Korea's Samsung Electronics said Monday it would invest a record 26 trillion won (22.7 billion dollars) this year to cater for a global uptick in demand and to reinforce its market dominance.
It said about 18 trillion won would be spent on new facilities -- including 11 trillion for semiconductor plants and five trillion for LCD panel production -- while about eight trillion won would be spent on research and development.
The company said in a statement it expects to hire 10,000 new staff in 2010.
While the world economic environment remains uncertain, "if we invest aggressively in expanding facilities and in hiring, then these circumstances also present Samsung with an opportunity for future growth and to stimulate the economy," chairman Lee Kun-Hee said.