Samsung Electronics, the world’s leading maker of memory chips and flat-screen TVs, announced on Friday that it aims to become one of the top 10 global corporations in terms of annual sales within a decade.

Samsung aims to attain US$400 billion in annual sales in 2020, a four fold increase from its current level and making it one of the world’s top five brands, the company said at a ceremony to mark its 40th anniversary. Samsung, also the world’s second largest mobile phone maker, said it would endeavor to develop new growth engines such as medical devices and solar batteries, while solidifying its advanced position in memory chips, display panels, mobile handsets and TVs.

Samsung also plans to expand the ratio of non-Koreans to its total workforce in both local and international bureaus from the current 45 percent to 65 percent. The move would sharply increase the number of foreign employees in local offices to 2,000 by 2020 from the current 850, the company said.

“We would like to embark on a new challenge to surpass the success we have achieved in the past 40 years,” said vice chairman Lee Yoon-woo during a ceremony.

Samsung Electronics announced its record high third-quarter earnings earlier in the day. Its net profit stood at 3.72 trillion won (US$3.16 billion), with sales of 24.86 trillion won.

YonhapNewsAgency

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