President Lee Jae Myung, left, shakes hands with Samsung Electronics Chairman Lee Jae-yong during an event held in Rome, Italy, June 13. Yonhap
President Lee Jae Myung on Monday was set to unveil large-scale investment plans designed to nurture the country's semiconductor, physical artificial intelligence (AI) and AI data center sectors, including the creation of a new chip cluster.
The "tripolar mega projects for a great leap" comes as Korea seeks to secure what Lee has called "absolute competitiveness" in advanced technologies to become an industrial powerhouse in the emerging AI era.
The plans are expected to involve investment commitments from Samsung Electronics and SK Group, the parent group of SK hynix Inc., among other firms, with their respective chairmen, Lee Jae-yong and Chey Tae-won, set to announce large-scale investments.
The plans may, in particular, include the creation of a massive semiconductor production cluster in the southwestern Honam region, reportedly involving up to 1 quadrillion won ($650 billion) in investment over a 10-year period.
