Key facts
- Samsung Electronics and SK hynix will announce major investment plans on Monday.
- The announcements will be made during a briefing on government mega projects for balanced regional development.
- Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won will attend.
- Investments are expected to exceed 1,000 trillion won over the next 10 years.
- A potential chip cluster development in the Honam region is anticipated.
Samsung Electronics Co. and SK hynix Inc. are scheduled to announce significant investment plans early this week, according to the presidential office. The announcements are set to take place during a briefing at 2 p.m. Monday, presided over by President Lee Jae Myung, focusing on the government's three mega projects for balanced regional development.
Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won are expected to attend the event and participate in discussions. Industry observers anticipate that the two semiconductor manufacturers will commit to investments exceeding 1,000 trillion won (approximately US$650 billion) over the next decade. These investments may include the potential development of a chip cluster in the southwestern Honam region.
President Lee Jae Myung has described the planned investment as a "historic achievement" that could significantly impact South Korea's future. However, the opposition People Power Party has voiced criticism, labeling the initiative as "politically motivated" and timing it with internal power struggles within the ruling Democratic Party.