Samsung to spend $153M to develop local software talent

Company intends to spend 170 billion won over the next five years to train and hire new software engineers.

Samsung is planning to invest 170 billion won (US$153 million) to help develop the local software talent pool.

Yonhap News Agency reported Wednesday the South Korean electronics giant will be spending that amount over the course of five years to train software engineers. It will also hire over 2,000 of such engineers every year through to 2017, which is an increase of almost 30 percent from the average of the past few years, it added.

"The plans will help grow the local software industry, and is in line with the government's push for a creative economy," said an unnamed company official in the report.

The report also noted Samsung had earlier this year announced a new recruitment policy in that it would hire liberal arts degree holders and train them as software engineers.

The company had earlier this week unveiled its plans to invest a total of 1.5 trillion won (US$1.34 billion) over the next 10 years to establish a new foundation for South Korea to develop patents in the next-generation technologies.