Samsung said it will also bolster its mainstay chip business, which is already the major source of profit for the company.
As for the bio business, Samsung claimed that it wishes to foster the segment to become another major pillar of its portfolio like semiconductors.
For biopharmaceuticals, Samsung has seen strong growth from both its contract manufacturing and biosimilar businesses.
The investment plan comes after South Korea's finance minister met Samsung heir Jay Y.Lee on Monday and called for help in job creation.
Liverpool complete deal for striker hours after deadline
Honestly, if you could bottle character and spirit, his would sell worldwide - he is so incredibly positive and full of energy. The source added that the fee will include £18m guaranteed with a further £2m in add-ons based on appearances.
The announcement has had little impact on Samsung's share price but should be welcomed by investors anxious about the lack of strategic direction since the conviction of group heir Jay Lee on bribery charges past year.
Lee kept a low profile after his release in February but has been emerging in his public role in recent weeks.
Samsung is also looking to be a front runner in the 5G race.
All-in-all, Samsung expects to create 40,000 new jobs over the next three years, which includes creating 20,000 new jobs on top of previous hiring plans - it said this shows Samsung's commitment to support youth employment. The rest will likely be distributed to China, Vietnam and other production lines overseas.
"The latest investment reflects the company's belief that it may fall behind the competition if it takes its current position as a global leader for granted and is lax is making investments now", an official from Samsung said. But even by Samsung's standard, the size of the investment announced Wednesday was huge.
Samsung Electronics said the announcement followed "many months of deliberations and review" by the group.
The Samsung logo is seen in Seoul, South Korea, March 23, 2018.
Such moves raised hopes for change, but more than a year after taking office Moon's administration is facing mounting criticism over its handling of the economy.
Although demand for its memory chips remains robust, the market for its smartphones appears to have hit a wall, prompting the company to search for fresh growth opportunities.
Four clubs spend 40% of Premier League's £1.2bn outlay
The way in which United are being talked about this pre-season, it's as if they've got a load of bums playing for them. The 2018/19 season gets under way with Manchester United taking on Leicester City at Old Trafford Friday.
This does sort of confirm that Facebook had indeed reached out to the various banks for their critical and confidential data. And now Facebook Messenger has added a feature that is very similar to something Snapchat launched not too long ago.
Expect to hear more about Nintendo Switch Online soon in the coming weeks, probably first at Gamescom which is 15 days away. Mario, Super Mario Bros. 3, and Donkey Kong are confirmed for launch - alongside 10 still unannounced titles.
Sure, maybe you want to take better selfies, but altering your appearance to do so isn't necessarily the best path, experts say. Requests for hair transplants and eyelid surgical procedures have also increased as people seek the ideal selfie.
Last week, Mr Erdogan urged Turks to exchange gold and other currency for lira in a effort to boost its value. Erdogan said China, Mexico, Russia and India will be new markets for his country's exports.
The new rules will increase culling quotas and more shooters to operate under a single license, a government press release states. Primary Industries Minister Niall Blair said farmers were enduring one of the driest Southern Hemisphere winters on record.
The Silverstone-based outfit last month appointed FRP Advisory LLP as joint administrators but continued to operate as normal. That led to the team entering administration on July 27 in the hope of finding new owners who could service the team's debts.
I'll record the first drum part, then I'll run to the next drum set and play another drum part that will record over the first. It is compromised of narrated behind the scenes footage of Grohl in the studio.
Australia's most populous state is now "100 percent" in drought following the most intense dry spell in more than 50 years. Japan and Korea are suffering heatwaves and wildfires have blazed across California and Sweden.
NASA poised to launch first sun-skimming spaceship
At closest approach to the Sun, the front of Parker Solar Probe's solar shield faces temperatures approaching 2,500 F (1,377 C). The success of the mission was fully investigated for the Spacecraft at Cape Canverell Air Force Station on July 30.
Idris Elba back in the running for Bond
Fuqua responded that the transition "will happen eventually", going on to suggest Elba as the frontrunner for the part. MGM will distribute the film domestically while Universal Pictures will handle global distribution.
4 killed in Canada shooting
It happened in the Brookside Drive area where there are a number of shops and houses. "It was sort of like a pop, pop, pop, pop". At least four people were killed in a shooting incident in the eastern Canadian city of Fredericton , police said on Friday.
Nasa prepares daring mission to 'touch the Sun'
It will take about seven years to shed all that sideways speed into Venus' well of orbital energy, notes NASA. NASA is tackling this challenge to facilitate the Parker Solar Probe's mission to the Sun's atmosphere .
Fulham sign Vietto on a season-long loan from Atleti
With Thursday's addition of Croatia striker Nikola Kalinic , Atletico had room to loan out Vietto once again. The former Racing Club man has bounced around since moving to Europe but now he has landed in England.
Yerry Mina relishing Everton challenge
The 25-year-old began his career at Benfica, with his career highlight being a European Championship win with Portugal in 2016. Gomes joined Barcelona from Valencia in 2016 for (£31.46) €35m but has struggled to nail down a starting place at the Nou Camp.