SK hynix headquarters (left) and Samsung Electronics headquarters (Yonhap) President Lee Jae Myung is expected to meet Samsung Electronics Chairman Lee Jae-yong on Thursday as the government enters the final stage of discussions on a major semiconductor investment package outside the Seoul metropolitan area, according to industry sources on Wednesday.The meeting is expected to focus on Korea's semiconductor strategy, artificial intelligence and regional development, including potential investments in new chip manufacturing and advanced semiconductor facilities in the southwest and Chungcheong regions.The Lee administration has pushed to establish a second semiconductor cluster beyond the existing hub centered in Yongin, Pyeongtaek and Icheon in Gyeonggi Province, and Cheongju in North Chungcheong Province.Kim Yong-beom, presidential chief of staff for policy, confirmed Wednesday that discussions on the new regional semiconductor cluster were nearing completion."We are nearing the final stage of discussions. There will likely be an opportunity to explain it soon," Kim said during a forum hosted by the Kwanhun Club in Seoul.Kim stressed that the proposal is not intended to replace or relocate facilities from the Yongin semiconductor cluster currently under construction. Instead, it aims to secure additional land and infrastructure to support future growth."Due to explosive demand, we believe the completion of the Yongin cluster should be accelerated," Kim said. "The ongoing regional investment discussion is about looking seven to eight years ahead for the next stage, a second cluster."Industry sources said plans under discussion for the Honam and Chungcheong regions could include not only advanced chip packaging facilities but also front-end semiconductor fabrication plants, significantly expanding the scale of the project.The broader scope could dramatically increase investment requirements. With a single advanced semiconductor fabrication plant estimated to cost at least 60 trillion won ($40 billion), industry observers say combined investments by Samsung Electronics and SK hynix could eventually reach 300 trillion won to 400 trillion won.The president met SK Group Chairman Chey Tae-won last week and is understood to have discussed similar issues. Samsung and SK hynix are also expected to participate in a public-private meeting chaired by Lee later in June on the government's broader regional development strategy.Industry sources said Lee may visit Asan, South Chungcheong Province, on July 2 to unveil details of the investment initiative. Chey is also expected to visit Gwangju on June 30 in connection with investment plans involving semiconductor facilities.The discussions form part of the administration's push to build a southern semiconductor belt and promote balanced regional growth through new industrial clusters outside the capital region.