Samsung Group will invest 240 trillion won in strategic sectors such as chips and bio-medicine and hire 40-thousand employees through 2023.

The top conglomerate unveiled its ambitious investment and employment plan eleven days after its de facto leader Lee Jae-yong was released from prison on parole.

The blueprint expands on Samsung's 2018 pledge to invest 180 trillion won and is the largest of its kind by a single business entity.

Samsung said it plans to fulfill its corporate duty in preparing for the future economy and society as the nation braces for a period of Great Transition that will likely impact the industry, international order and social structures beyond the COVID-19 era.

It vowed to lead such efforts through making aggressive investments and also step up measures to emerge as a market leader through mergers and acquisitions. 

Since his early release, the Samsung heir is believed to have held a series of meetings with key executives to discuss the plan.