Samsung Group Announces Investment Plan

AP has reported that the Samsung Group, South Korea's biggest industrial conglomerate with interests ranging from semiconductors to shipbuilding, said Tuesday it plans to double sales by 2010, matching the goals set last week for its huge electronics unit. • Samsung also said it will spend 47 trillion won, or $45 billion, on research and development and recruit 30,000 new researchers over the next five years. The majority of the spending plan includes goals announced more than a month ago by Samsung Electronics Co., which accounts for about 60 percent of total sales and is the group's largest member. Samsung Heavy Industries Co., another pillar of the group, is one of the world's largest shipbuilders.