Samsung announces new village project

South Korea's Samsung Electronics Co Ltd plans to invest 10 million yuan ($1.54 million) to turn a poverty-stricken village in Hebei province into a thriving area by upgrading infrastructure facilities and developing the rural tourism industry.

The consumer electronics giant, in partnership with the China Foundation for Poverty Alleviation, announced on April 10 the launch of its second "sharing village" project in China, which is located at Nanyu, in Laishui county.

The investment involves building public infrastructure facilities such as a road network, providing water and electricity, constructing guesthouses and creating a rural tourism industry.