South Korea’s Samsung Group and SK Group are reportedly preparing to invest as much as 2,000 trillion won ($1.3 trillion) over the next decade under President Lee Jae Myung’s industrial development strategy.
The investments are expected to focus on semiconductor manufacturing, AI data centres and advanced technologies, making them among the largest corporate investment commitments in the country’s history.
The announcement is expected to coincide with the launch of the government’s “Three Mega Projects for the Great Leap Forward” initiative aimed at strengthening South Korea’s leadership in next-generation industries.
According to a report by the Korea Economic Daily, executives from Samsung and SK are expected to present their investment plans during a meeting at the presidential office. Although the companies have not officially confirmed the figures, the reported commitment exceeds earlier estimates that suggested Samsung alone could announce investments worth more than 1,000 trillion won.
Much of the spending is expected to go towards expanding semiconductor production. Samsung Electronics and SK Hynix are reportedly planning to build four to five semiconductor fabrication plants each in the Gwangju region. Samsung is also expected to establish advanced chip packaging facilities in South Chungcheong Province, while SK Hynix plans to expand its NAND flash memory production in North Chungcheong Province.
The investment package is closely linked to President Lee’s industrial strategy, which aims to strengthen South Korea’s competitiveness in semiconductors, artificial intelligence and advanced manufacturing. Government officials from the industry, science, climate and land ministries are also expected to outline policy support measures during the event.
Presidential policy chief Kim Yong-beom had earlier hinted that the investment figures to be announced would be “very unusual,” fueling speculation about the scale of the commitment. If confirmed, the proposed investment would represent one of the largest long-term industrial spending plans ever announced by South Korean corporations.
The move also highlights the growing global race to secure leadership in AI infrastructure and semiconductor production, sectors that have become increasingly important amid rising demand for advanced chips and computing power worldwide.
South Korea unveils $576 billion chip and AI mega-projects as President Lee Jae Myung aims to cement industry leadership with new production hubs https://t.co/qWkeAqHc7u pic.twitter.com/bw1V6nEnv6
— Reuters (@Reuters) June 29, 2026
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