Lee set to unveil large-scale investment plans in advanced tech, including chip cluster

President Lee Jae Myung on Monday was set to unveil large-scale investment plans in advanced tech, including a new chip cluster, as Korea seeks to secure competitiveness in the AI era. Samsung Electronics and SK Group are expected to announce major investments, with the chip cluster potentially involving up to 1 quadrillion won ($650 billion) over 10 years.

President Lee Jae Myung on Monday was set to unveil large-scale investment plans designed to nurture the country's semiconductor, physical artificial intelligence AI and AI data center sectors, including the creation of a new chip cluster. The "tripolar mega projects for a great leap" comes as Korea seeks to secure what Lee has called "absolute competitiveness" in advanced technologies to become an industrial powerhouse in the emerging AI era. The plans are expected to involve investment commitments from Samsung Electronics and SK Group, the parent group of SK hynix Inc., among other firms, with their respective chairmen, Lee Jae-yong and Chey Tae-won, set to announce large-scale investments. The plans may, in particular, include the creation of a massive semiconductor production cluster in the southwestern Honam region, reportedly involving up to 1 quadrillion won $650 billion in investment over a 10-year period. The central Chungcheong and southeastern Yeongnam regions may also host investment projects, as the Lee administration seeks to align the technology investment plans with i