South Korean Presidential Office: Samsung and SK Hynix to Announce Major Investment Plans on Monday

Deep Tide TechFlow reports that on June 28, according to the Korea Times, the South Korean presidential office stated on Sunday that Samsung Electronics and SK Hynix will announce major investment plans on Monday during a meeting chaired by President Lee Jae-myung. The related investments will be unveiled at a briefing held at the Blue House at 2 PM Korea Standard Time (1 PM Beijing Time) on Monday. The briefing aims to introduce the government’s “Three Major Super Projects” initiative to achieve balanced regional development. A spokesperson added that the plan is jointly promoted by the trade, technology, transportation, and energy departments. Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won will attend the event and participate in discussion sessions with other attendees. Industry observers anticipate that these two chip manufacturers will invest over 1,000 trillion won (approximately $650 billion) over the next decade, potentially including the development of a chip industry cluster in the southwestern Honam region. On Saturday, Lee Jae-myung described this investment as a “historic achievement” and a policy initiative that could change the fate of South Korea. (Jin10)