The government of South Korea has held discussions with Samsung and SK Hynix regarding future chip investments in the country.Per a report from Reuters, the planned investments relate to semiconductor production facilities, with a government official adding that an announcement about a new chip cluster would be made soon.In comments reported by Reuters, presidential policy adviser Kim Yong-beom said that “exponential and explosive" ​growth in demand for chips to support the AI industry will likely require both companies to speed up construction of their planned chip facilities by more than a decade.Both companies are currently undertaking efforts to expand production capacity with the construction of new fabs in South Korea. Samsung’s P5 facility in Pyeongtaek, Gyeonggi, is expected to be operational by 2028, while SK Hynix’s forthcoming M15X facility is slated for utilization by mid-2027.In April of this year, SK Hynix announced it would be investing $12.85 billion in an advanced packaging manufacturing plant in South Korea. Dubbed P&T7, construction of the fab began that same month.The news comes in the same week that memory chip giant SK Hynix overtook Samsung for the first time to become South Korea’s most valuable company, hitting a $1.35 trillion market cap. The company passed the $1 trillion mark for the first time in May.