Samsung Group, South Korea’s largest family-run conglomerate, said Tuesday that it will invest 240 trillion won (206 billion US dollars) in semiconductors and biopharmaceuticals for the next three years until 2023. Samsung said in a statement that the investment in strategic businesses to drive future growth will be led by various Samsung affiliates, including its mainstay Samsung Electronics and Samsung Biologics. Out of the total, 180 trillion won (154 billion US dollars) will be invested locally. The total amount topped Samsung’s previous three-year investment plan of 180 trillion won announced in 2018. Samsung Electronics planned an early execution of the already announced investment to develop advanced process technology and expand business for new applications in artificial intelligence (AI) and data centers. The tech affiliate will continue in research and development (R&D) and infrastructure, focusing on meeting the mid- to long-term demand rather than short-term changes in market conditions, Samsung said.