Korean President's Office: Samsung and SK Hynix to Announce Major Investment Plan on Monday

Odaily reported that, according to the Korea Times, the Korean President's Office stated on Sunday that Samsung Electronics and SK Hynix will announce major investment plans on Monday during a meeting presided over by President Lee Jae-myung.

The relevant investment will be announced at a briefing held at the Blue House at 2 PM Monday local time (1 PM Monday Beijing time). The briefing aims to introduce the government's "three mega-projects" to promote balanced regional development. A spokesperson added that the plan is being jointly promoted by the trade, technology, transportation, and energy ministries. Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won will attend the event and participate in a discussion session with other attendees.

Industry observers anticipate that the two chipmakers will invest over 1,000 trillion won (approximately $650 billion) over the next decade, which may include the possibility of developing a chip industry cluster in the Honam region of the southwest. On Saturday, President Lee Jae-myung called this investment a "historic achievement" and a policy initiative that could change South Korea's fate. (Jinshi)