South Korean president to unveil massive AI and chip investment drive

South Korean President Lee Jae Myung will announce three mega-projects to boost AI and semiconductor investments, including a new chip hub in the southwest that could attract hundreds of billions of dollars from Samsung and SK. The initiative aims to align the country's tech ambitions with regional development goals.

SEOUL – South Korea is set to unveil three “mega-projects” to fuel its next growth phase, including a new semiconductor hub in the southwest that local media say could attract investments by Samsung and SK spanning hundreds of billions of dollars over several years. The announcement would mark President Lee Jae Myung’s boldest push yet to align South Korea’s AI and chip ambitions with his pledge to narrow regional disparities and revive economies beyond the Seoul metropolitan area. Lee will preside over the event, framed as a national “great leap” due to be unveiled around 2 p.m., his office said, with ministries covering industry, science, climate and transport set to outline policy support.